YUVAM Account

Who Can Open a YUVAM Account?

• Turkish citizens who have residence or work permits abroad or whose registered address in the address registration system is outside of Türkiye,

• Blue Card holders, in accordance with Article 28 of the Turkish Citizenship Law No. 5901 dated 29/05/2009,

• Foreign nationals who meet the legal requirements to open a bank account in Türkiye.

Features:

• Customers can benefit from the account opening by converting their participation fund balances in USD, EUR, GBP, and CHF into Turkish Lira (TL) using the foreign exchange/gold buying rate announced hourly by the Central Bank of the Republic of Türkiye (CBRT) between 10:00 and 15:00.
• Accounts can be opened with maturities of 3 months, 6 months, 12 months, or 24 months.
• They are eligible to benefit from account openings in Turkish Lira (TL).
• Partial withdrawals are not allowed during the maturity period. However, our customers may close the account at any time on business days.

• The foreign currency amounts converted into YUVAM Participation Accounts will earn an additional return, calculated based on the annual yield rates specified below for each maturity group. This additional return is paid to the account holder in Turkish Lira by the Central Bank. Annual Additional Yield Rates: 

  1% for accounts with a 3-month maturity

  2% for accounts with a 6-month maturity

  3% for accounts with a 12-month maturity

• In the calculation of the exchange rate difference; the change between the CBRT USD, EUR, GBP, and CHF buying rate at 11:00 on the maturity date and the USD, EUR, GBP, and CHF conversion rate valid on the account opening date will be taken into account.
• According to the calculated exchange rate difference and the profit share amount of the account at maturity:
  If the maturity exchange rate is lower than the conversion rate, the customer will be paid principal + profit share + additional return.
  If the maturity exchange rate is higher than the conversion rate:
  If the profit share amount > exchange rate difference: At maturity, the customer will be paid principal + profit share + additional return by CBRT.
  If the profit share amount < exchange rate difference: The customer will be paid principal + profit share + (exchange rate difference – profit share) + additional return by CBRT.
• If the account is closed before the maturity date; if the CBRT USD, EUR, GBP, and CHF buying rate announced at 11:00 on the withdrawal date is higher than the conversion rate, no exchange rate difference payment will be made by CBRT.
• If the CBRT USD, EUR, GBP, and CHF buying rate announced at 11:00 on the withdrawal date is lower than the conversion rate; the account balance will be updated based on the CBRT USD, EUR, GBP, and CHF buying rate announced at 11:00 on the date the account is closed before maturity.
• Upon customer request, accounts may be renewed up to the foreign currency amount corresponding to the Turkish Lira balance at maturity, based on the CBRT USD, EUR, GBP, and CHF buying rate announced at 11:00 on the maturity date.
• Accounts can be opened 24/7, including outside of working hours and on holidays.
  For account openings made after working hours, the most recently announced CBRT 15:00 buying rate will be used.
  For account openings on holidays, the CBRT 15:00 buying rate announced on the previous business day will be used for conversion into Turkish Lira.
• Other foreign currency types are converted into USD, EUR, GBP, or CHF and then into Turkish Lira based on the CBRT conversion rate for opening a YUVAM account.

Channels through which YUVAM account can be opened:

• Branch