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Flexible Time Account

Flexible Time Account offers flexible withdrawal options, and favorable long term interest rates!

While earning interest on your savings in the long run, you can withdraw cash when required, and can earn the early withdrawal interest.

  • Favorable interest rates,
  • Withholding tax advantage of the long term deposit, 
  • The ability to withdraw cash and still keep the original term,
  • The feature of earning interest over the amounts withdrawn throughout the term. 

Features of the Flexible Time Account

  • You can set a term for the Flexible Time Account from 366 to 1100 days.
  • You can open the account in the currencies of TRY, USD and EUR.
  • The minimum amount required to open a Flexible Time Account is TRY 10,000, or USD/EUR 2500.
  • You can check the balance of your Flexible Time Account at the internet branch.
  • You can withdraw cash for a maximum of 7 times throughout the term of the account.
  • The first withdrawal can be on the 7th day following the term’s start date. As long as the number of total withdrawals do not exceed 7 times, multiple withdrawals can be made on the same day.
  • You can earn early withdrawal interest for a maximum of 2 times throughout the term of the account. To be able to benefit from this feature, the withdrawn amount should not exceed 50% of the principal amount. 
  • In the calculation of interest earning, the withholding tax rate applicable to the term of 366 days or above shall be considered.
  • If you exercise all of your rights of early withdrawal by earning interest, you can still withdraw cash, provided that you do not exceed the total maximum number of withdrawals (7 times), and that you keep the minimum required amount in the account. You will not be able to earn interest over these withdrawals.
  • If you prefer to close your account before the maturity date, interest earned for the previous withdrawals will be deducted from the principal amount.

How can I Open an Account?

You can open a Flexible Time Account at any QNB  Branch.

Frequently Asked Questions

What is the minimum amount required to open a Flexible Time Account?

Minimum amount required to open a Flexible Time Account is TRY 10,000, 2,500 Euros, or 2,500 US Dollars.

Can I withdraw money from my Flexible Time Account any time?

As long as the account balance stays above the minimum limit, you can withdraw for a maximum number of 7 times throughout the term.

Can I earn interest over the amounts that I have withdrawn?

You can earn interest over the amounts withdrawn if they are up to 50% of the principal amount, for a maximum number of 2 withdrawals, and the rate being the Early Withdrawal Interest Rate. In the calculation of net interest earning, the withholding tax rate applicable to the term of 366 days or above shall be considered.

Can I deposit money to my Flexible Time Account any time?

If you deposit money to the Flexible Time Account before the maturity date, you will not be able to earn interest for this account.

Can I close my Flexible Time Account before the maturity date?

If you close your Flexible Time Account before the maturity date, you will not be able to earn interest for this account. If you have made early withdrawals and you close the account, the interest earned for those early withdrawals will be deducted from the principal amount.