YUVAM Hesap Nedir ve Nasıl Yararlanabilirim?
YUVAM hesabı, yurt dışında yaşayan Türk vatandaşları için özel bir tasarruf hesabıdır. Döviz kuru dalgalanmalarına karşı koruma sağlar ve birikimlerinize ekstra getiri sunar.
YUVAM Hesap Nedir ve Nasıl Yararlanabilirim?
A YUVAM account is a special savings account for Turkish citizens living abroad. It provides protection against exchange rate fluctuations and offers extra returns on your savings. Here’s a simple guide to help you understand it better:
Who Can Open a YUVAM Account?
Turkish citizens living abroad with a residence permit, a registered foreign address in Turkey, or a Blue Card can open a YUVAM account. Foreigners and foreign companies can also open an account if they meet the necessary conditions.
Maturity Options
You can choose between 3, 6, 12, or 24 months for your YUVAM account. For the 24-month option, the interest is paid annually.
Opening an Account
You can open a YUVAM account at any Turkish bank or participation finance institution. If you don’t have an account in Turkey, you can open one online from anywhere in the world.
Advantages
- Protects against exchange rate risk
- Provides a guaranteed principal and extra return at maturity
- Earnings from YUVAM accounts are not taxed in Turkey.
- You can open and renew as many YUVAM accounts as you wish, without any limits.
Extra Returns
The Central Bank of Turkey offers additional returns based on the maturity of your account:
– 3% for 3 months
– 4% for 6 months
– 5% for 12 months
– 6% for 24 months
What will I earn if I open a YUVAM account?
Suppose that a YUVAM account is opened for EUR 1,000 for a maturity of 12 months. The CBRT offers an additional return of 5% for 12-month maturity. In this case, at the end of maturity, the account holder will be guaranteed the TRY equivalent of EUR 1,050 at the exchange rate at maturity. The account holder will also receive the interest/profit share amount given by the bank. Moreover, if any exchange rate difference arises, this difference will also be covered by the CBRT. When the exchange rate is lower at maturity compared to the start of the term, the balance in FX terms will be higher.
Early Withdrawal
Money can be withdrawn from YUVAM accounts before maturity. However, the return to be obtained at maturity will be forgone as in time deposit and profit share accounts. Thus, the CBRT will not pay the foreign exchange difference and the additional return in that case.
What happens after the 24-month YUVAM account term ends?
You can apply to the bank to extend your account for another term.
YUVAM Account for Turkish Citizenship by Investment
Soru: I applied for citizenship through bank investment and opened a YUVAM account. I need to keep the money in my account for 3 years for the bank investment requirement, but the YUVAM account has a maximum term of 24 months. What can I do for the remaining 12 months?
Cevap: After the 24-month term ends and you have received your returns, you can extend your existing YUVAM account for another 12 months. There is no restriction on this. Once you complete the 36-month period, you can withdraw your money along with the returns.
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