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YUVAM Participation Account

​​What is the YUVAM Participation Account?

​​​The YUVAM Participation Account is offered to non-residents and their companies, enabling them to earn on their EUR / USD / GBP savings in Turkish Lira. In addition to favorable profit shares, the account also ensures protecting savings against foreign exchange risks.

How to open a YUVAM Participation Account?

​​​You can open a YUVAM Participation Account via the Türkiye Finans Internet Branch, Mobile Banking or at Türkiye Finans branches.

INTERNET BRANCHBu bağlantı yeni sekmede açılacak.Bu bağlantı yeni sekmede açılacak.NEAREST BRANCH

Who can hold a YUVAM Participation Account?

Non-residents who fulfill any one of the below criteria are eligible to open a YUVAM Participation Account:​​​

  • ​​​Real persons who have the right to or permit for residence or employment abroad,
  • Real persons whose registered residence in the Address Registration System in Turkey is a foreign address,​​​
  • Blue Card holders as per Article 28 of the Turkish Citizenship Law No. 5901 dated 29/5/2009,
  • Foreign-national real and legal persons who are eligible to open accounts in banks in Turkey.
  • Furthermore, companies with non-resident shareholders, established in a foreign country in compliance with that country’s legislation, and residing outside of Turkey can also hold YUVAM Participation Accounts.

How to calculate return on YUVAM Participation Accounts?

  • YUVAM Participation Accounts are opened with a 90/10 profit share ratio for the specified maturity.
  • At the end of maturity, the CBRT buying foreign exchange rate is compared with the buying foreign rate at the time of account opening.
  • At the end of maturity, if the return on foreign exchange is higher than the return on profit share, the return on foreign exchange is taken into account.
  • At the end of maturity, if the return on foreign exchange is lower than the return on profit share, the return on profit share is taken into account.

What are the features of the YUVAM Participation Account?

  • You can open YUVAM Participation Accounts in Turkish Lira with your savings in USD, EUR or GBP.
  • You can choose a maturity of 3, 6 or 12 months.
  • The minimum balance required to open an account is 250 TL.
  • You can open YUVAM Participation Accounts with a 90/10 profit share ratio.
  • The YUVAM Participation Account provides additional returns in Turkish Lira, to be paid by the Central Bank, at rates stated below based on maturity.
    • 3 Months: %1
    • 6 Months: %2
    • 12 Months: %3
  • Deposits or partial withdrawals are not allowed once the account is opened.
  • When converting USD, EUR or GBP to Turkish Lira for opening YUVAM Participation Accounts, the CBRT buying foreign exchange rate as of 10.00, 11.00, 12.00, 13.00, 14.00 or 15.00 on the day of the transaction apply.
  • In the event of withdrawal before maturity, profit shares are lost. The CBRT buying foreign exchange rates at the date of account opening and closing are compared; the account balance is updated based on the lower rate.
  • At the end of maturity, if the change in exchange rates higher than the profit share ratio, the difference is deposited in the customer’s account in TL. CBRT announces buying foreign exchange rates at 11.00. The exchange rate difference is calculated by comparing the buying foreign exchange rates at the end and beginning of maturity.
  • At the end of maturity, if the exchange rate difference is lower than the profit share ratio, the profit share accrued is deposited, disregarding the foreign exchange rate.
  • No withholding tax is applied to the account.
  • At the end of maturity, the profit share is accrued and the account is automatically renewed as per your request.

Frequently Asked Questions about the YUVAM Account

What maturity options are available for the YUVAM Account?

YUVAM Accounts can be opened with a maturity of 3, 6 or 12 months.

What are the additional return rates on YUVAM Accounts?

The YUVAM Participation Account provides additional returns in Turkish Lira, to be paid by the Central Bank, at rates stated below based on maturity.

  • 3 Months: %1
  • 6 Months: %2
  • 12 Months: %3
How much is the return on YUVAM Accounts?
  • YUVAM Participation Accounts are opened with a 90/10 profit share ratio.
  • If the foreign exchange rate at the end maturity is lower than the conversion rate, the return on the account equals the participation account balance, comprising the principal and profit share.
  • If the foreign exchange rate at the end of maturity is higher than the conversion rate;
  • First, the profit share amount is taken into account. If the profit share accrued is higher than the difference in foreign exchange rates, the return on the account equals the participation account balance, comprising the principal and the profit share.
  • If the balance comprising the principal and the profit share is less than the sum of the principal and the additional return determined by the Central Bank, the difference is added to account returns.
  • If the profit share amount is less than the exchange rate difference, the return on the account equals the sum of the principal, the profit share, the difference between the exchange rate difference and the profit share, and the additional return.
How to calculate the conversion rate for the YUVAM Account?

The conversion rate is calculated based on the difference between the buying foreign exchange rates at the end and beginning of maturity.

When and how do banks convert currency for YUVAM Accounts?

Yuvam Participation Accounts are opened in TL in exchange of USD, EUR or GBP savings.

Conversions are based on the most recent buying foreign exchange rates announced by the Central Bank at 10.00, 11.00, 12.00, 13.00, 14.00 or 15.00.

Can changes be made to YUVAM Account agreements?

Changes cannot be made to YUVAM Account agreements.

Please click here for the Turkish Union of Participation Banks’ Decision regarding the Deposit and Participation System (YUVAM) Accounts for Citizens Residing Abroad.

Please click here for the YUVAM ACCOUNTS FACT SHEET

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