TIME DEPOSIT ACCOUNTS
Time Deposit Account in Turkish Lira
Features
Interest Rates
Turkish Lira Time Deposit Account Interest Rates
| Maturity start (day) | Maturity end (day) | Interest Rates % |
|---|---|---|
| 0 | 6 | 2% |
| 7 | 13 | 2% |
| 14 | 31 | 2% |
| 32 | 91 | 2.5% |
| 92 | 180 | 2.5% |
| 181 | 271 | 2.5% |
| 274 | 364 | 2.5% |
| 365 | 450 | 2.5% |
FX Time Deposit Account
Features
You can invest your savings under assurance of Burgan Bank. Your private customer representative follows up your account one-to-one for you within the frame of confidentiality and safety principles.
You can open FX deposit accounts with any maturity you wish from 1 day to 1 year, and make investments without being affected from interest changes during the maturity. At the end of maturity, unless stated and requested by you, your account is renewed with the same maturity and over the then-current interest rate.
You can contact Burgan Bank branch closest to you in order to learn our deposit interest rates determined specifically for you.
Interest Rates
USD/GBP Time Deposit Account Interest Rates
| Maturity start (day) | Maturity end (day) | Interest Rates % |
|---|---|---|
| 0 | 6 | 0,05% |
| 7 | 13 | 0,05% |
| 14 | 31 | 0,05% |
| 32 | 91 | 0,05% |
| 92 | 180 | 0,05% |
| 181 | 271 | 0,05% |
| 274 | 364 | 0,05% |
| 365 | 450 | 0,05% |
EUR/CHF/NOK Time Deposit Account Interest Rates
| Maturity start (day) | Maturity end (day) | Interest Rates % |
|---|---|---|
| 0 | 6 | 0,01% |
| 7 | 13 | 0,01% |
| 14 | 31 | 0,01% |
| 32 | 91 | 0,01% |
| 92 | 180 | 0,01% |
| 181 | 271 | 0,01% |
| 274 | 364 | 0,01% |
| 365 | 450 | 0,01% |
With effect from 03/01/2020, our time deposit account interest rates published via our branches are as cited above.
DYNAMIC DEPOSIT ACCOUNT
A new deposit account allowing you to withdraw money from your time deposit account at any time you wish, while you may continue to earn without changing the interest and maturity of your principal sum: Dynamic Deposit Account!
With Dynamic Deposit Account, you have the opportunity to withdraw money from your account whenever you need without any change in account maturity, while on the other side investing your savings in the maturity options determined by yourself!
With Dynamic Deposit Account:
- We are offering to you the opportunity to meet your cash needs from your time deposit account; and
- Even if you withdraw money from your account, interest is continued to be applied on your principal sum due to time deposit account features of your account; and
- You may open your account in Turkish Lira or Foreign Currencies; and
- You may determine any maturity you wish up to 1 year.
In order to get detailed information about and to make use of advantages of Dynamic Deposit Account, you may visit Burgan Branch closest to you, or may call 050 222 8 222.
REGULAR DEPOSIT ACCOUNT
Features
With your Regular Deposit Account, before the end of maturity, you can earn an interest income regularly at the predetermined interim periods, and if you wish, you can use this interest income for your banking transactions or other needs. What’s more, you can make use of an interest rate advantage throughout the maturity. Promptly open an account, and have a facility much more than a deposit account with regular income and with interest payment options on monthly, quarterly or semi-annual bases.
In order to get detailed information about and to make use of advantages of Regular Deposit Account, you may visit Burgan Branch closest to you.
- Deposit Account with Interim Period Payment is subject to a maturity of 1 year.
- Before the end of maturity, you may earn regular interest income at monthly, quarterly or semi-annual interim periods in your own choice. These interest amounts are transferred to your demand deposit account at interim payment days.
- You may, in your discretion and option, withdraw your interest income for your cash needs, or use the same for your other banking transactions.
- You may open your account in TL, Euro or USD currencies.
- While you use your interest income, your account with interim period payment does not lose its time deposit account character.
DEPOSIT WITHHOLDING TAX RATES
By a decree published in the Official Gazette, the withholding tax rates applied on TL and FX deposit accounts opened after 01.01.2013 have been differentiated according to maturity.
Current deposit withholding tax rates applicable for accounts opened after September 30, 2020 are shown in the following table:
Full Taxpayer and Limited Taxpayer Natural Persons
| Term of Account | TL | YP |
|---|---|---|
| 1-180 Days (180 days included) | 10% | 25% |
| 181-365 Days (365 days included) | 5% | 25% |
| 366 days and more | 2,5% | 25% |
INSURABLE DEPOSITS
Pursuant to article 4 of the “Regulation on Premiums to be Collected by Insurable Deposit and Participation Funds and Saving Deposits Insurance Fund” promulgated in the Official Gazette edition 26339 dated 07.11.2006:
A portion up to 200 thousand Turkish Lira [i] for each natural person of the total sum of principal and interest rediscounts of saving deposit accounts in Turkish Lira, foreign exchange and precious metals which are opened in the name of natural persons in local branches of a crediting institution operating in Turkey and are not used for trading transactions, other than solely drawing of checks, is under insurance cover.
However, even if it remains within the limit specified and determined under the Saving Deposits Insurance, a portion of the interests accrued over the deposit accounts as of the date of cancellation of the operating license of the deposit bank and to be paid by the Fund to the account holders which exceeds the amounts to be calculated over the average of interest rates applied by the first five deposit banks in the ranking of total deposits and over the maximum interest rates made public by this bank and declared to the Central Bank is not under insurance cover.
Deposits Not Subject to Insurance
Deposit accounts belonging to controlling shareholders of the related crediting institution and their parents, spouse and children under custody, and deposit accounts belonging to chairpersons and members of board of directors or committee of managers, or chief executive officers and their assistants, of the related crediting institution and their parents, spouse and children under custody, and deposit accounts included in the definition of proceeds of crime-related assets given in article 282 of the Turkish Criminal Code no. 5237, and deposit accounts held with crediting institutions founded in Turkey solely for off-shore banking activities are not subject to insurance cover.
Payment of Deposit Funds to Insured: Payments required under insurance are made in Turkish Lira. Turkish Lira equivalent sums of accounts in foreign currency are determined over the foreign exchange buying rates declared by the Central Bank as of the date of cancellation of the operating license of the crediting institution. Turkish Lira equivalent sums of accounts in precious metals [ii] are determined over Istanbul Gold Exchange session closing price and over the foreign exchange buying rates declared by the Central Bank as of the date of cancellation of the operating license of the crediting institution.