Exchange Rate Protected TRY Term Deposit Account

• The account can be opened by real persons resident in the country.
• Our customers with USD, EUR, GBP, or XAU (gold) balances will be able to benefit.
• The account can be opened for 3-, 6-, and 12-month terms.
• If the end of the term coincides with a holiday, the first working day will be determined as the end of the term.
• When opening an account, the TRY deposit interest is determined and at the end of the term, the interest yield is compared to the exchange rate yield and the higher one is applied to the account. If the yield to be calculated taking into account the exchange rate determined at the opening and the exchange rate at the end of term is greater than the interest yield determined at the opening, the missing part will be completed automatically at the end of term.
• In the conversion transactions and determining the exchange rate at the opening of the account, the latest exchange purchase rate announced by the Central Bank of the Republic of Turkey at the time of the opening of the account on the day of the transaction will be taken as a basis. The exchange rate calculations at the end of the term will be based on the foreign exchange purchase rate announced by the Central Bank of the Republic of Turkey at 11:00 on the trading day.
• Based on your preferences specified at the time of opening of the account, your account can be automatically renewed at the end of the term or closed at the end of the term and the total amount can be transferred to your drawing account. You can update this preference via our branch offices or QNB Mobile during the term or at the end of the term.
• If the end of the term coincides with a holiday, the first working day will be determined as the end of the term.
• If the account is closed before the end of the term, the CBRT foreign exchange purchase rate determined at opening time on the date of opening the account is compared with the CBRT foreign exchange purchase rate announced at 11:00 on the date of closing the account. The account balance will be updated based on the lower exchange rate, and if the exchange rate is lower on the date of closing the account, there may be a loss on the principal at the start date of the term.
• You can contact our nearest branch offices for early account closures.
• At the end of the term, foreign exchange purchases can be made at the exchange rate and these transactions are exempt from exchange income tax.

*The features of the Exchange Rate Protected TRY Term Deposit Account converted from the Foreign Exchange Deposit Account to TRY, the operation manner and principles of the account have been determined by the CBRT.

Account Opening Exchange The amount, interest rate, and exchange rate specified in the above scenario are only an example, and you can contact our nearest branch offices for actual interest rates.Rate: USD 1 = TRY 10
Account Opening Amount: TRY 1,000,000
Term: 92 days
Interest Rate: 17%
Net Interest the Customer will Receive: TRY 42,849
Exchange Rate at the Term End: USD 1 = TRY 9
Since the exchange rate has fallen, the customer will receive directly a deposit interest yield (TRY 42,849) at the end of term, and the principal + interest amount will increase on the basis of USD.
You can learn about the interest rates from QNB Mobile or by contacting our nearest branch.

The tax withholding rates on interest income from deposit accounts, based on the maturity period and currency of the deposit, are outlined in the table below. 
These rates apply to accounts opened or renewed between August 1, 2024, and January 31, 2025

You can easily open your account by following the steps of QNB Mobile->Open an Account-> Opening an Exchange Rate Protected Account. 
You can also open an Exchange Rate Protected TRY Term Deposit Account at our branch offices. 
If you are not a QNB  customer, you can easily become our customer and open your account by downloading QNB Mobile from the application store on your phone.