Unlocking Extra Interest on Your Turkish Lira Savings
Are you looking to boost your savings in Turkish Lira? You don’t need to participate in special campaigns to earn extra interest and access ongoing welcome interest rates. With advantageous interest rates, the only thing you need to do to grow your savings is to meet certain criteria with specific banking products.
You can also earn extra interest and benefit from ongoing welcome interest rates for foreign currency and gold denominated Turuncu Accounts. While the Welcome Period is not separate for each account and extends across all your accounts, the Ongoing Welcome Interest can be reached at different times for each currency due to varying extra interest rates.
Details for each product and their specific criteria are available under the product headings below.
Turuncu Extra
To take advantage of Turuncu Extra benefits in your Turuncu Account, you must first join the Turuncu Extra program. Once enrolled, you can reach your points target by paying bills from your current account, spending with your Turuncu Extra Debit Card, or transferring money from another bank account to your ING account.
In the Turuncu Extra program, every 1 TL spent equals 1 point. The extra interest earned through Turuncu Extra applies only to TL denominated Turuncu Accounts. When a refund is made for a purchase, the refunded amount is deducted from the collected points.
Investment Funds
To earn extra interest with investment funds, you need to hold campaign-included investment funds in an amount determined by your Turuncu TL Account balance. To find out how much fund you need to hold based on your Turuncu Account balance and which funds are included in the campaign, please click here.
To extend your Welcome Period, you must place a fund purchase order by 13:30 on the last day of your Welcome Period at the latest. The target investment fund balance is determined based on your Turuncu TL Account balance from the previous business day.
When calculating the target investment fund amount, the sum of your portfolio’s campaign-included investment fund balance* and campaign-included fund purchase orders entered by 13:30 on business days is considered. Purchase orders placed after 13:30 will be considered when determining the target amount for the next business day.
After the Welcome Period, you will be eligible to earn extra interest on the first business day following the realization of the target investment fund amount, and you will continue to benefit from the extra interest as long as you maintain the relevant investment fund target amount daily. The balances of campaign-included USD and EUR denominated investment funds are calculated based on TL fund prices.
*The investment fund balance must be maintained until 9:00 AM one business day later without being liquidated.
Insurance
To earn interest with insurance products, you need to have at least one of the Supplementary Health Insurance, My Home Insurance (Home), or My Car Insurance (Casco). As long as your policy is active, you will grow your savings with the announced extra interest rates.
The extra interest will be reflected on the first business day following the day your policy is issued. You will continue to earn extra interest as long as your policy is active. To explore insurance products, please click here.
Credit Card
To earn interest with a credit card, you need to reach a spending amount of 10,000 TL within a statement period. The extra interest rates you earn will be reflected in your account on the first business day after the statement date and will be valid until the next statement date.
Only the primary cardholder can earn extra interest on spending made with supplementary cards; supplementary cardholders cannot benefit from the extra interest rate. In case of a purchase refund, the refunded amounts will be deducted from the statement amount required to earn extra interest. For detailed information about credit cards, please click here.
When considering these opportunities to grow your Turkish Lira savings, it’s helpful to understand the value in Euros. For example, if you are considering a savings goal or evaluating the 10,000 TL credit card spending requirement for extra interest, knowing the Euro equivalent can provide a clearer international perspective. While exchange rates fluctuate, understanding approximately how much is 100.000 TL in Euro today gives context to the amounts discussed for earning extra interest on your Turkish Lira accounts. Staying informed about these conversions can aid in your financial planning and decision-making when managing your Turkish Lira savings and investments.