Silver Account​

The first part of the text describes the coverage details of the Deposit Insurance Fund in Turkey, ensuring the safety of deposits within certain limits. The insured amount for each depositor is up to 650,000 Turkish Liras, covering the principal and interest re-discounted in Turkish Lira, foreign currency, and precious metal savings accounts that are opened in domestic branches solely in the name of real persons and are used exclusively for non-commercial purposes, excluding check issuance.

The second part lists the types of deposits that are not covered by deposit insurance:

• Deposits and other accounts belonging to the major shareholders of the relevant credit institution, as well as their spouses, parents, children under custody.
• Deposits and other accounts of the board members, chairman, and members of the board of directors, general manager and assistant general managers of the relevant credit institution, as well as their spouses, parents, children under custody.
• Deposits and other accounts covered under the assets derived from the crime listed in Article 282 of the Turkish Penal Code dated 26/9/2004.
• Deposits held in banks established exclusively for offshore banking activities in Turkey.
• Deposits held in the branches of banks operating abroad.
• Deposits held in banks operating in Turkey or abroad specifically for offshore banking activities.
• Deposits provided with excessive interest rates above the maximum interest rates publicly declared by the bank and notified to the Central Bank by the five banks with the highest total deposit amount and the average interest rates of these banks.

Payments from Insurance Coverage

Payments under the insurance coverage are made in Turkish lira if the banking license of the deposit bank is revoked. When determining the amount to be paid under the insurance coverage, the total of the principal and interest rediscounts of the savings deposit accounts is taken into account. The Turkish lira equivalents of deposit accounts in foreign currency and gold are determined based on the Central Bank's buying rates on the date the banking license is revoked and the Istanbul Gold Exchange's closing price (for accounts in silver).