FX Time Deposit Account

• It does not get affected by interest fluctuations in the market until the end of maturity, and it provides fixed income.

• Along with accounts with a maturity of 1-month, 3-month, 6-month, and 12-month, you can open an irregular maturity account with maturity from 32 days to 400 days as you wish.

• You can open an FX (Foreign Currency) Time Deposit Account in EUR, USD, GBP, CHF, JPY, RUB, SEK, SAR, DKK, CAD, AUD, NOK, KWD, BGN, RUB, RON, IRR, CNY, PKR, QAR, KRW, AZN and AED.

• The interest rates are gross interest.

• The minimum account opening limit is 500 GBP for GBP accounts, 100,000 JPY for JPY accounts, and 1,000 relevant currency for other foreign currency accounts.

• In case of early withdrawal, no interest is accrued on the relevant account.

• As per the new regulation published on the date of 7 December 2023, a portion of up to 650,000 TL in savings accounts is under the protection of the state.

• You can choose one of the options below for the end of maturity action while opening your account.
  • Maturity Extension for Principal and Interest: Your account is renewed automatically with the same maturity and the then-current interest rates at the end of maturity.
  • Maturity Extension for Principal and Transfer of Interest to Another Account: Only your principal amount is renewed while the accrued interest amount is transferred to an account of your selection.
  • Conditional Maturity Extension: Your selected amount is transferred to an account you determine whereas the remaining amount is renewed.
  • No Extension: Your principal amount together with the accrued interest is transferred to accounts you indicate, and your account is closed thereafter.

• With "Deposit Money to Time Deposit Account Order", you can ensure that extra money is automatically supplemented to your time deposit account on the maturity dates. Following an order you will give via Garanti BBVA Mobile, Internet, or our branches, the amount you will determine shall be transferred from a current account of your selection to your time deposit account at the time of every maturity renewal.
  

Withholding tax rates as from 28.06.2023: