In order to provide a better experience on our website, we use cookies in compliance with restrictions. You may review our Cookie Policy to get detailed information. 

Exchange Rate/Price Protected TRY Deposit Account Conversion from Foreign Exchange/Gold

You can instantly open a time deposit account by converting the (USD/EUR/GBP and GOLD) balance in your accounts with our Bank into TRY at the CBRT's special conversion rate/price and hedge against foreign exchange/price risk.

As of 31/08/2024, the balances of foreign exchange deposit accounts and foreign currency participation fund accounts in USD, EUR, and GBP held by domestic resident real persons at banks shall be converted into Turkish Lira at the conversion rate upon the account holder's request.

As of 31/08/2024, the gold accounts held by domestic resident real persons at banks shall be converted into Turkish Lira at the conversion price upon the account holder's request.

Account Features

  • You can open your account through VakıfBank Branches between 10 a.m. and 4:15 p.m., and 24/7 via VakıfBank Mobile and VakıfBank Internet Banking.
  • When converting from FX/Gold to TRY, you can benefit from the special conversion rate/price published by the CBRT at 10 am/11 am/12 pm/13 pm/13 pm/14 pm/15 pm.
  • The latest USD/EUR/GBP/GOLD rate/price announced by the CBRT on the account opening date is taken into account.
  • The exchange rate/price information published by the CBRT at 11:00 on the account maturity date is taken into consideration.
  • In case your possible earnings due to exchange rate/price difference is higher than your deposit interest return, the exchange rate/price difference will be reflected in your account.
  • If your deposit interest return is greater than your potential gain from the exchange rate/price difference, your deposit interest return will be credited to your account.
  • Where you close your account before maturity, the account opening rate/price will be compared with the rate/price announced by the Central Bank of the Republic of Turkey at 11 a.m. on the date the account is closed. If the opening rate is lower than the closing rate, no exchange rate/price difference payment will be made. If the account opening exchange rate/price is higher than the exchange rate/price on the account closing date, the exchange rate/price difference will be charged to your account.
  • After the interest accrual at the end of the maturity, the account will be closed automatically and the balance will be transferred to the demand account.
  • Withholding Tax (Tax Deduction) is applicable on the interest income earned at the rate specified in the legislation.
  • During the maturity period, the account will be closed for withdrawals and deposits.
  • You can renew your account on the maturity date in the foreign exchange/gold converted at the beginning of the maturity date and at the closing rate of the account at the end of the maturity date (at 11 a.m.).
OSZAR »