Indexed Time Deposit Account

Indexed Time Deposit Account
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    Indexed Time Deposit Account is a 6 month term deposit account which offers variable income depending on the potential changes in the financial instruments or precious metals such as stock exchanges, foreign currency, interest, etc.

    The applications are accepted during the Book Building Period. At the end of the period, the accounts are opened and the Underlying Index is monitored throughout the maturity period determined at the beginning. The interest income is calculated at the end of the maturity according to the performance of the Underlying Index in the maturity period. 

    Time Deposit Account Indexed to 3MTRLIBOR

    It is a 6 month term deposit product whereby the interest income is calculated on the number of days 3MTRLIBOR remained in the range interval set at the beginning through the maturity period and paid to the customer at the end of the maturity.

    What is 3M TRLIBOR? : It is 3 month reference interest rate determined as Interbank Offered Rate for Turkish Lira. Please click here to reach current TRLIBOR rates. 

    Bid No

    Currency

    Underlying Index

    Bid Dates

    Maturity

    Underlying Index
    Range Intervals*

    1

    TL

        3MTRLIBOR 

     07.12.2009 - 11.12.2009    

      14.12.2009 - 14.06.2010   

    %6,75 - %7,95

    2

    TL

          3MTRLIBOR    

     15.02.2010 - 19.02.2010  

     22.02.2010 - 27.08.2010  

    %7 - %8,15

    3

    TL

          3MTRLIBOR   

    19.04.2010 - 26.04.2010 

    27.04.2010 - 28.10.2010 

    %7,25 - %8,25

    4

    USD

    USD/TL

    17.05.2010 - 24.05.2010 

    25.05.2010 - 24.11.2010 

    1.4700 - 1.5900

    5

    TL

    3MTRLIBOR 

    14.06.2010 - 21.06.2010 

    22.06.2010 - 03.01.2011 

    %7,50 - %8,50

    6

    TL

    3MTRLIBOR 

    05.07.2010 - 12.07.2010 

    13.07.2010 - 11.01.2011 

    %7,50 - %8,50

    7

    TL

    3MTRLIBOR 

    26.07.2010 - 02.08.2010 

    03.08.2010 - 03.02.2011 

    %7,50 - %8,50

    8

    TL

    3MTRLIBOR 

    25.08.2010 - 02.09.2010 

    03.09.2010 - 03.03.2011 

    %7,45 - %8,25

    9

    TL

    average 3MTRLIBOR and USD/TL, EUR/TL curreny

    25.10.2010 - 02.11.2010 

    03.11.2010 - 03.05.2011 

    The upper and lower limit set for USD/TL and EUR/TL average currency  movement =1.6500-1.7500 and The upper and lower limit set for 3MTRLIBOR movement= %7,40 - %8,10

    10

    TL

    3MTRLIBOR

    12.01.2011 - 18.01.2011

    19.01.2011 - 22.07.2011

    %6,85 - %7,85

    11

    TL

    3MTRLIBOR

    24.02.2011 - 04.03.2011

    07.03.2011 - 08.09.2011

    %7,70 - %8,30

    12

    TL

    3MTRLIBOR

    21.04.2011 - 26.04.2011

    27.04.2011 - 30.04.2012

    %7,60 - %8,70

    13

    TL

    3MTRLIBOR

    22.04.2011 - 28.04.2011

    29.04.2011 - 02.11.2011

    %7,80 - %8,45

    Sample Calculation for a Time Deposit Account Indexed to 3M TRLIBOR**:

    Bid Dates

    15.02.2010 – 19.02.2010 

    Maturity

    22.02.2010 – 27.08.2010

    Range Intervals

     %7 - %8,15

    Annual Interest (Gross)

     %12,50

    Principal

     100.000 TL

    Number of days 3M TRLIBOR remained in the range interval

     155 days

    Maturity

     186 days

    Gross Interest

     ( %12,50 * (155/365) ) = %5,31

    Gross Interest Amount

     100.000 * %5,31 = 5.308,22 TL

    Net Interest Amount

    5.308,22 * 0,85 = 4.511,99 TL

    Sample Calculation for a Time Deposit Account Indexed to USD/TL Currency**:


    Bid Dates

    17.05.2010 – 24.05.2010 

    Maturity

    25.05.2010 – 24.11.2010

    Range Intervals

    1.4700 - 1.5900

    Annual Variable Interest (Gross)

     %4

    Annual Fixed Interest (Gross)

     %1

    Principal

     100,000 USD

    Number of Days USD/TL remained in the range interval

     155 days

    Maturity

     183 days

    Variable Interest Amount

     ( %4 * (155/365) )*100,000 = 1,698.63 USD

    Fixed Interest Amount

     ((183-155)/365)*%1*100,000 = 76.71 USD

    Total Interest Amount

     (1,698.63+76.71)*0,85=1,509.03 USD

    * The Underlying Index Range Intervals are indicative and the final range intervals are determined at the end of the bids.
    ** All figures given on the sample calculation are indicative; and the income at the maturity is variable depending on the maturity, interest rate and performance of the Underlying Index throughout the maturity period.
    *** The interest rates are subject to 15% withholding tax.

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