Time Deposits

Choose the term that’s right for you and start earning right away!

Deposit with Option Account, which is opened for from 15 – 30 days, you can earn interest on your deposits while still having the cash you need for your daily expenses. The TL Time Deposit Account, with maturities of 1, 3 and 6 months or one year, allows you to withdraw your funds, along with the accumulated interest, at the end of the deposit period. The FX Time Deposit Account can be opened in any currency convertible into TL for maturities of 1, 3 and 6 months or one year and allows you to withdraw your funds, along with the accumulated interest, at the end of the deposit period.

Features and Advantages

• With a Deposit with Option Account, all your credit card and personal loan installment payments, check payments and transfer or electronic transfers are made automatically within the specified limit set for your account. For this deposit account, the daily accumulated interest is deposited into your account at the maturity date. In the event that no funds are withdrawn during the maturity period, the entire amount earns the rate of interest paid on time deposit accounts. If withdrawals are made, the amounts withdrawn, as well as all amounts used for automatic payments, earn the rate of interest applied to demand deposit accounts.
• For TL Time Deposit Accounts and FX Time Deposit Accounts, the rate of interest is fixed for the entire maturity period and the accrued interest is paid, net of all applicable taxes, at the end of the maturity period. When you open a TL Time Deposit or an FX Time Deposit, you are told exactly how much interest you will earn on the deposit, but, in the even that at withdrawal is made prior to maturity, you will receive only the principal amount without any accrued interest. For your convenience, in the event that instructions to the contrary have not been issued, at the end of the maturity, the Time Deposit will be automatically reopened with the same maturity.
• You can monitor your account transactions via Internet Banking or by calling HSBC Bank Telephone Banking at 444 0 111 and can also periodically have statements of account entered in the passbook you received from the branch.
• Upon maturity, you can withdraw funds at any HSBC Bank Branch or ATM.

* The total withdrawal limit during the maturity period is 10,000.00 TL for retail banking customers and 5,000.00 TL for corporate banking customers.

Taxation

As of January 1st, 2006 onwards, earnings on capital and money market instruments are subject to a flat-rate withholding tax, in accordance with the provisional clause 67 of the Revenue Code, added by the clause 30 of Law no. 5281.

Under the new tax regime effective until December 31, 2015, withholding will constitute the final tax liability for Turkish and foreign-domiciled real persons and these earnings need not be declared in a separate tax return.

Please click for FAQ and the details of the 2007 Tax Code pertaining to Turkish and foreign-domiciled real persons.