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 32 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.
Profit Sharing Ratios
| Turkish Lira | 3 Months | 6 Months | 1 Year | Over 1 Year |
|---|---|---|---|---|
| Minimum Account Balance: 1.000 TL* | 90% - 10% | 91% - 9% | 93% - 7% | 93% - 7% |
| Dollar & Euro | 3 Months | 6 Months | 1 Year | Over 1 Year |
|---|---|---|---|---|
| Minimum Account Balance: 250 USD/EUR* | 70% - 30% | 72% - 28% | 72% - 28% | 75% - 25% |
*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
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 | 7,5% | 5% | 2,5% |
| 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 650,000 for both individuals and legal entities.
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