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Time Deposit Account

Choose the term that best suits your needs and start making the most of your money.

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

  • 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 0850 211 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.

* Deposits are insured up to an amount of 100.000 TL per person, not per account. All deposit accounts opened in all branches of the bank are considered for insurance limit calculation.

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.