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Savings of Citizens Abroad Gain Value in Turkey With Vakıfbank Yuvam Account

VakıfBank launched the YUVAM Account as part of the Deposit and Participation System for Non-Residents.

According to the statement made by the bank, the savings in dollars, euros and sterling currencies that will be transferred to VakıfBank by citizens of the Republic of Turkey and blue card customers living abroad, who have a residence or work permit or right, and the special conversion rate of the Central Bank. will be converted to TL with

AA, Tolga Yanık

As with foreign currency conversion accounts, YUVAM Account holders will also be able to benefit from the Central Bank’s additional income at varying rates depending on the maturity of the account, as well as currency protection. On the maturity date of the account, the sum of the interest yield of the account and the foreign exchange gain and the Central Bank’s additional return amount will be compared and the larger amount will be reflected in the account. The withholding rate will be zero in the YUVAM Account.

VakıfBank General Manager Abdi Serdar Üstünsalih, whose views are included in the statement, stated that as a bank that acts with the goal of “growing the national economy with itself” in line with its sustainable banking approaches, they attach importance to rapidly implementing the practices developed by the economy management to support the appreciation of the Turkish lira.

In this context, Üstünsalih stated that they were among the first banks to launch the Currency Protected TL Time Deposit Account, and then the Foreign Exchange and Gold Conversion Currency and Price Protected TL Time Deposit Account. “While evaluating their savings in our country, we offer a savings alternative where they can protect their gains under all circumstances. Our customers who want to open a YUVAM Account can easily perform their transactions through VakıfBank Mobile and internet banking as well as our branches. We are happy to do our part for our citizens who trust the Turkish lira in this process.” used the phrases.

Erdem Artan

Hello, I'm Erdem, I write content for Expat Guide Turkey every day. Don't forget to check it out!

One Comment

  1. Hello
    Good afternoon
    I have a question regarding the Yavum account.

    If I open this account in lira in amount equal 500.000 dollars for 3 years.
    Can I apply for Turkish nationality depending on this account?

    Thank you

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