VakifBank launched the “Cumulative Currency Protected Deposit” product, which allows the amounts accumulated in the daily time deposit account to be automatically transferred to the Currency Protected TL Deposit Account at the end of maturity.
With the product, which is a first in the banking sector, VakifBank customers will be able to use their daily savings with advantageous interest rates, while combining their savings in two different accounts on the maturity date of the Currency Protected TL Deposit Account, they will be able to protect their savings against currency fluctuations.
In this product, which eliminates the need to follow the due date for transferring money to Currency Protected TL deposit accounts, time is saved thanks to the automatic execution of the transaction.
While the amount utilized in VakifBank’s new account is valued daily with advantageous interest rates, withdrawals and deposits can be made until the balance is transferred to the Currency Protected TL Deposit Account.
Cumulative Currency Protected Deposits can be opened at VakifBank branches without a lower limit. It will be possible to open an account in the near future via internet banking and VakifBank Mobile application.
This daily time deposit account must be associated with a currency protected account and can be linked to an existing or newly opened TL Deposit Account. In the Cumulative Currency Protected Deposit, deposits and withdrawals can be made without a lower limit.
VakifBank General Manager Abdi Serdar Ustunsalih, whose views are included in the statement, stated that they are expanding their currency-protected account portfolios day by day, which will make saving in Turkish lira more profitable for savers.
Ustunsalih said, “We have developed a first product in the sector that will make the lives of our customers who have a Currency Protected TL Time Deposit Account or those who want to open a new account easier. The Cumulative Currency Protected Deposit is a product that facilitates and encourages savings by transferring the balance to the Currency Protected TL Time Deposit Account without following the maturity date. It is also very important because it is one of the innovations that VakifBank brought to the sector. We will continue to offer innovative products and services to all our customers who want to preserve the value of their savings while saving with Turkish lira.”
Source: Trthaber / Translated by Irem Yildiz