Deposit Insurance Requirement
In accordance with the “Regulation on Deposits and Participation Funds Subject to Insurance and Premiums Collected by Savings Deposit Insurance Fund” published in the official Gazette number 26339 dated 07/11/2006;
For individual accounts -where commercial transactions are excluded with the exception of checking activities- opened in domestic branches of a credit institution that operates in Turkey, in forms of Turkish Lira, foreign exchange currency and precious metals accounts, principal plus the interest of the savings deposit accounts are insured up to 100.000 TL per each individual.
Deposits at overseas branches of deposit banks, deposits at credit institutions that engage in off-shore banking activities in Turkey and abroad, and extreme interest rates that are above the maximum interest rates publicly announced by the bank and reported to the Central Bank, or above the average interest rate offered by the five deposit banks with the highest total deposits are not included within the scope of the insurance.
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