Yuvam Account

• This account can be opened for natural persons who are resident abroad and the companies in which natural persons residing abroad have a stake or act as company official.
• YUVAM Account can be opened in TRY by conversion of the foreign currency currently held by the account holders to TRY.
• More than one accounts can be opened by using USD, Euro and British Pound balances in your accounts without any date restriction.
• YUVAM Accounts can be opened with 3-Month, 6-Month, 1-Year and 2-Year maturity options both for natural and legal person customers.
• The account benefits from 90/10 profit sharing pool.
• Minimum account opening limit is TRY 250.
• No partial withdrawal can be made from the Account and no amount can be added to the account before the maturity date.
• The account can be closed before its maturity.

If the account is closed before its maturity;

• If the exchange rate announced by the Central Bank for such account type at 11:00 AM on the date that the account is closed before its maturity is above the conversion rate, no payment shall be made by the Central Bank with respect to foreign exchange difference and the Customer shall only receive the TRY principal available in the account.
• If the exchange rate announced by the Central Bank for such account type at 11:00 AM on the date that the account is closed before its maturity is below the conversion rate, the account balance shall be paid over the buying rate of exchange announced by the Central Bank at 11:00 AM on the date that the account is closed before its maturity. Accordingly, there may be decrease in principal balance based on decreases in foreign exchange rates if the account is closed before its maturity.
• Additional yield/return to be calculated using the rates given below over the foreign currency amounts converted to YUVAM Accounts according to the maturity options shall be separately paid by the Central Bank in Turkish Lira. Below-written rates indicate the annual rate of return

For the accounts with 3-month maturity: 3%,           For the accounts with 6-month maturity: 4%,

For the accounts with 12-month maturity: 5%,         For the accounts with 24-month maturity: 6%.

• If the exchange rate at the end of maturity is below the conversion rate; the Bank shall pay to the account holder the principal amount + profit share + additional yield.
• If the exchange rate at the end of maturity is above the conversion rate;

a) If the profit share amount is equal to or higher than the exchange difference, the Bank shall pay the principal amount + profit share + additional yield to the account holder.

b) If the profit share amount is below the exchange difference, the Bank shall pay amount equal to principal + profit share + “exchange difference – profit share” + additional yield amount to the account holder.

• There is no time restriction for the opening of the account.
• The account maturity can be extended by giving a renewal instruction through our Branches or Mobile Branch.