Currency Protected Convertible TL Time Deposit Account​

If you're an Odeabank customer, you can open the Currency-Protected Convertible TL Time Deposit Account at your branch.

If you're not an Odeabank customer, you can instantly become one via Video Call.

• With the Currency-Protected Convertible TL Time Deposit Account, you safeguard your savings against fluctuations in the exchange rate while obtaining interest returns at the maturity.
• The Currency-Protected Convertible TL Time Deposit Account can be opened by converting your savings in dollars, euros, pounds, or gold into Turkish lira, indexed to the relevant exchange rate or gold price.
• At the beginning of the term, your savings in foreign currency or gold will be converted to Turkish lira at the conversion rate/price based on the exchange rate or gold price declared by the Central Bank of the Republic of Turkey (TCMB) at 10:00, 11:00, 12:00, 13:00, 14:00, and 15:00, valid at the time of the transaction.
• At maturity, the exchange rate or gold price announced by the TCMB at 11:00 will be the maturity rate/price for the account.
• The initial 'conversion rate/price' at the beginning of the term and the 'maturity rate/price' at the end of the term will be valid for the calculation of the rate/price difference yield based on the rate/price changes:
  • If the maturity rate/price > conversion rate/price, and the interest amount you will earn at maturity > the difference amount due to the rate/price change, you will only receive interest returns.
  • If the maturity rate/price > conversion rate/price, and the interest amount you will earn at maturity < the difference amount due to the rate/price change, you will receive both interest returns and rate/price difference returns.
  • If the maturity rate/price < conversion rate/price, you will only receive interest returns.
• At the maturity date, if you request within the same day, your account can be renewed; however, renewal of the account after the maturity date will not be possible on the following day.
• The exchange rate or gold price announced by the Central Bank at 11:00 on the same day will be the renewal rate/price of your account. In this scenario, the same calculation methods mentioned above will be applicable between the renewal rate/price and the maturity rate/price announced at 11:00 on the next maturity date.
• You can renew your account for the same amount of converted foreign currency or gold as the initial conversion. If only interest earnings are obtained on the day of renewal, the interest amount cannot be added to the balance of the renewed account.
• The term of the Currency Protected Convertible TL Time Deposit account is 3, 6, and 12 months. If the maturity date falls on a public holiday, the next business day will be considered as the maturity date.
• The applicable withholding tax rate for all specified terms will be zero (0).
• The minimum opening balance for the account is 1,000 TL.
• Partial withdrawals or deposits CANNOT BE MADE within the term.
• If the account is closed before maturity, neither interest nor exchange rate support will be applied. Additionally, if the exchange rate at the time of closure, at 11:00, is lower than the exchange rate at the time of opening/renewal, the account balance will decrease by the amount equivalent to the change in the exchange rate/gold price.
• Only domestic residents can benefit from the Currency Protected Convertible TL Time Deposit account.
• You can open the Currency Protected Convertible TL Time Deposit account at all our branches, as well as through our mobile application/Internet Banking channels.