It is a deposit product that offers interest yield in TRY after conversion into TRY of physical gold to be accepted through the authorized jewelers of the contracted refineries under the Gold Acceptance System (AKS) or protection against exchange rate difference if the exchange rate increases more than the interest rate as well as additional income according to the communiqué and instruction numbered 2022/11 of the Central Bank of Turkiye (CBRT).
Features
- Within the scope of the Gold Acceptance System, "Physical Gold Currency Protected TRY Time Deposit Account" can be opened by Retail Customers.
- According to the maturity period (3, 6 and 12 months) selected during account opening, Physical Gold Currency-Protected Time Deposit Account in TRY can be opened in accordance to the rules specified in the Communiqué numbered 2022/11 and the implementation instructions published by the CBRT.
- As soon as gold is entered into the Gold Demand Deposit Account from an authorized jeweler, the gold deposited in the account is converted into Turkish Lira at the conversion price published by the CBRT, and a Physical Gold Currency Protected TRY Time Deposit Account is automatically opened.
- As a minimum, an interest rate of 80% of the CBRT Policy Interest Rate shall be applied.
- Partial withdrawals from the account and deposits into the account cannot be made from the account.
- Cancellation and closing transactions cannot be made on the day the account is opened.
- The withholding rate will be zero (0).
- For accounts converted from the Gold Acceptance System, additional income will be paid by the CBRT in Turkish Lira at the beginning of the maturity, provided that it is not withdrawn until the end of the maturity.
- If the account is closed before the maturity date, the additional income paid in advance at the beginning of the maturity is debited from the customer's account and paid back to the CBRT. In addition, if the exchange rate on the maturity date is lower than the rate on the account closing date, no exchange rate difference payment shall be made. If the exchange rate on the maturity date is higher than the exchange rate on the account closing date, the exchange rate difference shall be charged to the customer's account.
- At the end of the maturity, it is essential for the customer to obtain the sum of the gold-based principal calculated at the exchange rate at the end of the maturity and the additional income amount to be provided by the CBRT.
- If the exchange rate at the end of maturity is lower than the conversion rate, the principal + interest is paid to the account holder.
- If the exchange rate at the end of maturity is higher than the exchange rate at the beginning of maturity;
- If the exchange rate difference or the total amount of exchange rate difference and the additional income to be provided by the CBRT is higher than the gross interest amount to be paid by the bank, the amount of exchange rate difference is deposited into the customer account in TRY at the end of the maturity.
- If the amount of gross interest is higher than the exchange rate difference and the additional income to be provided by the Central Bank, the gross interest amount is deposited into the customer's account in TRY at the end of the maturity.
In addition to the principal and exchange rate difference, the following additional payments will also be reflected to your Physical Gold Currency Protected TRY Time Deposit Account by the CBRT;
- annual interest rate of 1% for 6-Month Term accounts
- annual interest rate of 2% for 12-Month Term accounts
You can make your transactions easily and safely at the contracted jewelers (Authorized Jewelers) of Ahlatcı Metal Rafineri A.Ş. to bring the gold savings under the mattress into the economy.
How to Make a Gold Deposit Through ATOM (Model for Forming Gold Saving)?
- First of all, you need to open a Gold Demand Deposit Account at our Bank.
- Go to the nearest Authorized Jewelery Company with your physical gold.
- The Authorized Jeweler will determine the value of your gold, which will not be less than the minimum gold fineness values to be used in the Scrap Gold Valuation determined by the BRSA.
- The equivalent in Turkish lira of your gold will be notified by the Authorized Jeweler at the conversion price announced by the CBRT at the time of the transaction.
- If you agree, your Currency-Protected Deposit Account in TRY converted from Physical Gold will be automatically opened with the SMS confirmation code sent to your mobile phone.
Please for a list of ATOM system authorized jewelers click here for a list of ATOM system authorized jewelers
How to Make a Gold Deposit Through ONSA?
- First of all, you need to open a Gold Demand Deposit Account at our Bank.
- Go to the nearest Authorized Jewelery Company with your physical gold.
- The Authorized Jeweler will determine the value of your gold, which will not be less than the minimum gold fineness values to be used in the Scrap Gold Valuation determined by the BRSA.
- The equivalent in Turkish lira of your gold will be notified by the Authorized Jeweler at the conversion price announced by the CBRT at the time of the transaction.
- If you agree, your Currency-Protected Deposit Account in TRY converted from Physical Gold will be automatically opened with the SMS confirmation code sent to your mobile phone.
Please for a list of ONSA system authorized jewelers click here for a list of ONSA system authorized jewelers .
