Time Deposit​

The principal amounts of savings deposit accounts opened in the name of individuals at our domestic branches, solely excluding commercial transactions other than check issuance, in Turkish lira, foreign currency, and precious metals, along with the total interest re-discounted on these accounts, are covered by insurance up to 400,000 Turkish liras per individual.

Deposits Not Covered by Insurance

• Deposits and other accounts belonging to the dominant partners of the related credit institution, as well as their parents, spouses, and children under guardianship, except for checks issued exclusively.
• Deposits and other accounts of the president and members of the board of directors or managers of the related credit institution, general manager and deputies, as well as their parents, spouses, and children under guardianship.
• Deposits and other accounts related to the assets deriving from the crime regulated under Article 282 of Law No. 5237 dated 26/9/2004.
• Deposits held in credit institutions established exclusively for offshore banking activities in Turkey.
• Deposits opened in foreign branches of deposit banks.
• Deposits held in credit institutions conducting offshore banking activities in Turkey and abroad.
• Excessive interest paid on deposits above the maximum interest rates and deposit totals declared to the public by the bank and reported to the Central Bank as per the average interest rates of the top five deposit banks.

Payments Covered by Insurance

Payments under the insurance coverage are made in Turkish lira in the event of revocation of the deposit bank's operating license. The amount to be paid under the insurance is determined by considering the total of the principal and interest rediscounts of the savings deposit accounts. The Turkish lira equivalents of foreign currency and gold deposit accounts are determined based on the Central Bank's foreign exchange buying rates and the Istanbul Gold Exchange's closing price (for gold-denominated accounts) on the date when the deposit bank's operating license is revoked.