What is Accumulating Savings Account and what are its features?
Accumulating Savings Account is a deposit account that enables you to earn high interest on your regular monthly savings.
With Accumulating Savings Account you can invest your savings with terms up to 10 years.
- The interest rate in effect for Accumulating Savings Account is the maximum annual interest rate that the
- For the 4. and 5. years, the interest rate is the prevailing maximum annual USD interest rate that the bank applies + 0,25.
- For the 6.-10. years, the interest rate is the prevailing maximum annual USD interest rate that the bank applies + 0,50.
- At the end of each year, interest will accrue to your account.
- You can withdraw money from your Accumulating Savings Account whenever you wish. However your account will be closed if you withdraw money. When you withdraw money at the end of the terms, you do not forfeit any interest. After the first year, when you withdraw money in the middle of a term, you only forfeit the interest accrued in the term that you withdraw the money.
- You can arrange for automatic payments to be made to your Accumulating Savings Account either from your TL or foreign currency accounts, or from any of your Garanti Bank credit cards without paying any commissions or interest, thus allow your savings to build up in this account by earning interest.
- The payment date of your Accumulating Savings Account must be between the 1st and the 28th days of the month. If you choose to make payments with your credit card, your payments will be reflected on your statement 1 day before the statement date.
- You can deposit a monthly minimum of 50 USD or 50 EUR into your Accumulating Savings Account. Account owners who continue their monthly payments regularly, also benefit from the Individual Accident Insurance free of charge. The coverage of the Individual Accident Insurance, which stays valid as long as the payments are made regularly, is 25 times the monthly payment amount for the first year and 100 times the monthly payment amount for the following years.