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        YUVAM Account

        Deposit Account for Non-Resident Turkish Citizens

        YUVAM is a special deposit account that provides non-resident Turkish citizens both high yield for their savings and protection of the value of their funds against exchange rate volatility.

        It is a deposit account for non-resident Turkish citizens, i.e. those residing outside of Turkey, allowing them to deposit their USD/EUR/GBP savings into TL Time Deposit Account and thus giving them the opportunity to both obtain an additional return for their savings and protect the value of their funds against exchange rate volatility.

        If you are not a Garanti BBVA customer yet, all you need to do is to visit the closest Garanti BBVA branch to open an account.

        • Features

          • Who Can Open a YUVAM Account?

          -Turkish citizens over the age of 18 who have residence or work permit or right in a foreign country

          -Turkish citizens over the age of 18 who have a foreign address as their residence in the address registration system

          -Turkish Blue Card holders

          -Real persons of foreign nationality who are eligible to open bank accounts

          • Accounts with 3-month, 6-month, and 1-year maturity can be opened via our domestic branches.
          • If and when the end of maturity coincides with a holiday, then the first business day thereafter shall be determined as the end of maturity.
          • The Policy Rate by the Central Bank of the Republic of Turkey (CBRT) shall apply as the minimum interest rate.
          • No money withdrawal or depositing transaction is allowed until the end of maturity.
          • Customers may open an account between 10:00 and 16:00 (in Turkish Time) during working hours.
          • This product is exempt from income tax withholding.
          • In order to open a YUVAM account, savings in USD/EUR/GBP should be converted into TL.
          • While converting foreign currency funds into TL, the latest exchange buying rate effective at the time of conversion as announced by the CBRT at 11:00, 12:00, 13:00, 14:00, and 15:00 hours on the relevant day shall be applicable.
          • At the end of maturity, the exchange rate difference between the end of maturity and the account opening date is calculated, and the foreign currency gain is determined over the principal.

          -If foreign currency gain is lower than interest yield, then the usual time deposit account procedure applies and the customer only receives interest yield calculated based on the interest rate applied to this account.

          -If foreign currency gain is higher than interest yield, then the customer benefits from an additional exchange difference (interest yield - foreign currency gain) along with interest yield.

          • The CBRT shall make an additional payment calculated at the rates of 1%, 2%, and 3% for 3, 6, and 12 months, respectively, for your YUVAM TL Time Deposit Account, besides the principal and additional exchange difference.
          • While determining the yield, the CBRT foreign exchange buying rate (for customer's foreign currency funds in USD, EUR, or GBP to be converted into Turkish Lira) announced at 11:00 hours on account opening date and the CBRT foreign exchange buying rate (for customer's foreign currency funds in USD, EUR, or GBP to be converted into Turkish Lira) announced at 11:00 hours on maturity date are used to calculate exchange difference.
          • Customers are free to close their accounts at any time they wish. In case of early withdrawal, the CBRT foreign exchange buying rate (for customer's foreign currency funds in USD, EUR, or GBP to be converted into Turkish Lira) announced at 11:00 hours on account opening date and the CBRT foreign exchange buying rate (for customer's foreign currency funds in USD, EUR, or GBP to be converted into Turkish Lira) announced at 11:00 hours on account closure date are compared. The lower rate is used to update the account balance. Customers may experience a loss in the principal they initially deposited if the said rate is lower at the time of account closure.
          • You may consult the nearest Garanti BBVA branch for detailed information.