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Investment Products

You can select the Vakıf Portfolio investment fund that best fits your needs based on your expectations for the market, the maturity structure you want to invest in, and your risk tolerance. 

If you are looking to invest in fixed income instruments in the short and long term, are generally risk averse, but can take interest rate risk and would like to know in advance the income you will receive at maturity, you can buy Government Bonds and Treasury Bills.

You may obtain all types of information on the best Eurobond products from VakfBank Private Banking branches if you are interested in keeping up with economic changes and wish to invest your savings in financial instruments denominated in foreign currencies in order to generate high returns over the long run and guarantee consistent cash flow through coupon payments.

If you wish to invest for the medium and long term and get a solid return while also expecting a greater return than deposits and Treasury Bills/Government Bonds, our bank bonds with VakıfBank guarantee are for you.

You can buy and sell 995/1000 purity gold bullion obtained from the Istanbul Gold Exchange in dematerialized form in amounts starting at 1 gram with the investment account if you wish to buy and sell gold for hedging and investment purposes or if you want interest-free earnings.

Due to the high purity and certification of VakıfBank Gold, which is also recognized internationally, you may both manage your risk and purchase and sell gold for investment purposes if you want to put your money into physical gold. Limited edition VakıfBank Golds also appeal to collectors.

VakıfBank Private Banking branches offer you the opportunity to purchase shares or make public offering transactions if you wish to invest your savings as a shareholder in publicly traded companies listed on the İstanbul Stock Exchange. 

You can realize your VIOP transactions at VakıfBank with attractive commission rates.

You can protect your assets from any risk with our safe deposit boxes of different sizes in our branches.

Derivative Products

What is an Option?

It is an agreement that gives the buyer the right to buy (call) or sell (put) a specific financial asset at a predetermined price at a predetermined maturity, and the seller the obligation to buy or sell.

Features of the Option Transaction

One-to-one protection against foreign exchange risk.
It is not affected by unfavorable changes in the exchange rate.
Provides benefit from favorable movements in the spot.
The option premium is paid on the day the transaction is settled, whether the option right is exercised or not.
The maximum loss to the option buyer is limited to the premium paid.

For Which Customers is Options Trading Suitable?

For the customers who sell the option, who accept the obligation to sell their foreign currency at lower levels than the market rate if the option transaction is realized at the expiry date and for the customers who buy the option, who accept the loss equal to the premium paid if the option transaction is not realized at the expiry date, the option constitutes a suitable product for customers who follow the foreign exchange market and have forecasts regarding the exchange rate.

Sample Operation

The customer wants to sell a call option for USD 1,000,000 60 days ahead at an exchange rate of TRY 5.60.
The customer expects that the USD-TRY exchange rate will not rise above 5.60.
In return for this transaction, the bank will pay the client an option premium of USD 9,500.

Beginning of Term:
No money transactions take place.

End of Term:
The bank, as the option buyer, decides whether the option will be exercised or not based on the market exchange rate.
If the spot rate is above 5.60 at the end of the maturity, the bank will exercise its option right and will buy the customer's USD 1.000.000 by paying TRY 5.600.000 at the rate of 5.60 agreed at the beginning of the maturity.
If the spot rate is below 5.60 at the maturity date, the bank will prefer to buy USD 1,000,000 cheaper than 5.60 in the spot market and will choose not to exercise the option.

What is DCD?

It is an option transaction in which the customer sells the bank the right to purchase any currency at a price defined by the customer at a specific maturity in exchange for the bank paying a premium to the customer. It is a structured product in which the principal subject to this option is connected to time deposits for the same maturity and offers deposit return.

Features of the DCD Transaction

Deposits cannot be withdrawn before maturity/term.
It does not provide protection against exchange rate fluctuations.
There is no principal guarantee.
The yield is higher than the standard deposit rate and varies in line with the risk taken by the customer.
The currency in which the deposit will be repaid at maturity depends on the target rate set by the customer at the beginning of the term and the spot rate at the end of the term.

For Which Customers is the DCD Transaction Suitable?

Those who want to earn a higher return than the return on deposits,
Those who follow the foreign exchange market, have forecasts about the exchange rate and can take exchange rate risk according to the levels they determine, consider DCD a suitable product.

Sample Transaction 1 (Customer with Foreign Currency Deposits)

A customer with USD 1,000,000 deposits believes that the USD-TRY exchange rate will not rise above 5.30 at maturity. If this customer's expectations are not fulfilled, i.e. if the spot rate rises above 5.30 at maturity, the customer is willing to convert his/her deposit to TRY at the USD-TRY rate of 5.30.
Deposit Amount    USD 1,000,000
Target Rate    5.30
Term day    60
Standard Deposit Interest (Gross)    4.50% (USD 6,575)
Option Premium Interest (Gross)    3.50% (USD 5,753)
Total Interest (Gross)    8.00% (USD 12,328)
At the end of the term; USD-TRY rate at 12:00 GMT (London) is taken into account.
Probability 1:If the USD-TRY rate equals or falls below 5.30 at maturity, the client will receive USD 1,000,000 principal plus interest on the Deposit and the Option Premium.
Probability 2: If the USD-TRY rate is above 5.30 at the expiry date, the customer will still receive the Deposit interest and the Option Premium. This time, however, the principal of USD 1,000,000 is converted to TRY at 5.30. As a result of this transaction, the customer receives gross total interest income of USD 12,328 and receives TRY 5,300,000 in deposits.

Sample Transaction 2 (Customer with TRY Deposit)

A customer with TRY 1,000,000 deposits thinks that the USD-TRY exchange rate will not fall below 5.30 at maturity. In the event that this customer expects the spot rate to fall below 5.30 at maturity, the customer is willing to convert his/her deposit to USD at the USD-TRY rate of 5.30.
Deposit Amount    TRY 1,000,000
Target Rate    5.3000
Term day    60
Standard Deposit Interest (Gross)    22%
Option Premium Interest (Gross)    7%
Total Interest (Gross)    29%
At the end of the term; USD-TRY rate at 12:00 GMT (London) is taken into account.
Probability 1: If the USD-TRY exchange rate is equal to or above 5.30 at the end of the term, the customer receives the principal amount of TRY 1,000,000 plus the interest on the Deposit and the Option Premium.
Probability 2: If the USD-TRY rate remains below the target rate of 5.30 at maturity, the customer will earn 22% interest income and the principal amount of TRY 1,000,000 will be converted to USD at 5.30. While the customer earns a gross total interest income of TRY 47,671 as a result of this transaction, he/she receives his/her deposit as USD 188,679.24.

In contingent option transactions, the option right is contingent. In order for the transaction to be valid, the " Contingent earning conditions" specified at the beginning of the transaction must be realized at any time during the term (depending on the nature of the Contingent Option).
If the condition determined in the beginning is not satisfied, the option right loses its validity. In a Contingent Option transaction, there are two parties, "the party buying a Contingent Option" and "the party selling a Contingent Option".

What is Currency Swap?

A transaction whereby the parties exchange two different foreign currencies at pre-agreed rates on the date of the transaction, and on the maturity date of the transaction, they exchange the relevant currencies back at the agreed rates and terms.

Features of Currency Swaps

End of term is set.
Cash flows on the day of the agreement.
It serves as a binding agreement as of the day it is concluded.
Cash flows occur at the beginning of and at maturity.
It is traded in the Over The Counter (OTC) market.
There is no commission payment.

Sample Operation

Our customer, engaged in import and export business, needs USD for 30 days even though they have TRY. Due to the mismatch in cash flows, the Company entered into an FX Swap transaction to buy USD 1 million today at USD-TRY 5.35 and sell it 30 days later at USD-TRY 5.40. This transaction guarantees that the customer can buy USD at 5.35 today and sell it 30 days later at 5.40.

Beginning of Term:
The customer pays TRY 5,350,000 and buys USD 1,000,000 from the bank.

End of Term:
At the agreed exchange rate, the customer gives USD 1,000,000 and receives TRY 5,400,000 from the bank.

What is Forward?

Forward agreements stipulate the purchase or sale of a specific financial asset (foreign currency, commodity, security, gold, etc.) at a price and quantity determined today on the maturity date.

Features of the Forward Transaction

End of term is set.
The price of the futures transaction is fixed on the trade date.
There is no cash flow on the day of the agreement.
It serves as a binding agreement as of the day it is concluded.
It is traded in the Over The Counter (OTC) market.
For the purpose of hedging or speculating on possible exchange rate losses from future exchange rate fluctuations.
There is no commission payment.

For Which Customers Is Forward Trading Suitable?

Those who want to fix the exchange rate cost in the future and determine the cash flow at term today,
Forward is an appropriate product for customers who want to protect themselves against market fluctuations or make speculative gains.

Sample Operation

Our customer, involved in import and export business, applies to our Bank to buy USD 1,000,000 by paying Turkish Lira 60 days in advance. The parties agree on an exchange rate of 5.50 for the term to expire from today.

Beginning of Term:
No money transactions take place.
End of Term:
At the agreed exchange rate, the customer gives TRY 5,500,000 and receives USD 1,000,000 from the bank.
 

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