Participation Account
Do not keep your savings in a money-box! Let your savings start to gain value on the same day! Participation Account allows you to add value to your savings with the income shared with a profit-loss partnership at the end of the maturity.
What is Participation Account?
The Participation Account does not have a pre-defined and committed income and it is based on the profit-loss partnership principle of projects provided with finance by the bank within the framework of an interest-free banking approach. Participation Account profit share rates vary depending on the type and amount of the investment.
Features of Participation Account
- You can open your Participation Account for 3 months, 6 months and 12 months with maturities starting from 7 days.
- When the Participation Account is opened, you need to deposit a minimum of 1,000 TL and 250 USD/EUR your account, whichever is suitable for the account type you selected.
- You can easily withdraw money from your account without waiting for maturity when you have a cash need. After meeting your cash need from your account, you can receive your profit share at the end of the maturity over the remaining amount. To receive the profit share at the end of maturity, you need to make sure that your account has the balance corresponding to the minimum amount required at account opening.
- If you want to open a digital Participation Account and grow your savings by benefitting from participation income, you can open Hayat Finans Participation Account.
* The total of Private Current Accounts and Participation Accounts is under the guarantee of Savings Deposit Insurance Fund (SDIF) of up to 950.000 TL for natural and legal persons.
Profit Sharing Ratios
| Turkish Lira | 3 Months | 6 Months | 1 Year | Over 1 Year |
|---|---|---|---|---|
| Minimum Account Balance: 1.000 TL* | %90 - %10 | %85 - %15 | %85 - %15 | %85 - %15 |
| Dolar & Euro | 3 Months | 6 Months | 1 Year | Over 1 Year |
|---|---|---|---|---|
| Asgari Hesap Açılış Bakiyesi: 250 USD/EUR* | %70 - %30 | %70 - %30 | %70 - %30 | %70 - %30 |
*The minimum balance required in the Participation Account to be eligible for profit sharing at the end of the maturity period in case of withdrawal during the term.
Profit Share Rates
*Profit share rates are not a forward-looking commitment but are indicative.
Withholding Tax Rates
Applied to Participation Accounts
| Currency | Up to 6 Months (6 Months Included) | 6 Month - 1 Year (1 Year Included) | Over 1 Year |
|---|---|---|---|
| Turkish Lira | 15% | 12% | 10% |
| Foreign Currency | 25% | 25% | 25% |
| Precious Metal | 15% | 15% | 15% |
* The total of current accounts and participation accounts is covered under the Savings Deposit Insurance Fund (TMSF) up to TRY 950,000 for both individuals and legal entities.
A Participation Account you can open with a maturity of at least 7 days adds value to your savings with the income shared within the framework of profit-loss partnership at the end of maturity. Income in the Participation Accounts which have no predetermined or committed return is based on the principle of being a shareholder in the profit or loss of the projects financed by the bank within the scope of interest-free banking principles.
You can open a Participation Account from our Hayat Finans Mobile application if you are an individual customer or our Internet Banking and Hayat Finans Mobile application if you are a corporate customer.
You can open Participation Accounts in Turkish Lira, USD and EUR.
The lower limit for opening a Participation Account is 1,000 TRY and 250 USD/EUR.
You can open a participation account with maturity options starting from 7 days, for monthly, 3 months, 6 months, 1 year and longer than 1 year.
If you need to, you can withdraw money without breaking your maturity date and receive your profit share on the balance at maturity. To receive profit share, you must have savings in your account equal to the minimum balance required to open the account. Click here for minimum balances.
You can close your Participation Account by transferring all balance in your Participation Account to your Current Account in the same currency.
Click here for withholding tax rates.