Physical Gold Participation Account (FATSI)

Protect your savings against exchange rate changes by depositing your gold in the Physical Gold Participation Account FATSI through Kuveyt Türk branches or contracted jewelers and benefit from the additional return advantage provided at varying rates depending on the maturity of the account. Get value for your gold under your mattress!

The features of the Physical Gold Participation Account, which can be opened at our branches, are as follows:

• It can be opened by domestic resident real* and legal** persons.
• Accounts are opened in TRY with maturities of 3, 6 and 12*** months.
• The profit share rate of the account is 85-15%. In accordance with the principles of participation banking, the rate of return is determined at the end of maturity.
• The additional return calculated at the rates specified below (annually) on the gold amounts converted into FATSİ accounts will be paid in TRY in advance by the Central Bank at account opening. The account holder will be able to benefit from the additional return advantage only once at account opening. As the additional return is included in the principal, dividend calculation will be more profitable than usual. Additional return rates depending on the maturity are as follows;
  • 3 Month Term: No additional payment.
  • 6 Month Term: %1 (Annual)
  • 12 Month Term: %2 (Annual)
• The FATSI Account is opened with gold deposited physically through pay desk, gold days and jewelers.
• Gold deposited for FATSI increases in value at more profitable gold fineness.
• A FATSI Account can be opened with the gold deposited up to 5 business days in advance.
• There is no lower limit for account opening.
• The withholding rate for FATSİ TL Participation Account is 10% for 3 months, 10% for 6 months and 7,5% for 12 months.
• Exchange rate difference, upfront additional return and dividend payments related to the account will be made in TRY.
• Whether there is an exchange difference allowance or not is calculated based on the gram gold purchase rate announced hourly by the CBRT between the maturity start and account closure dates. When the exchange difference return calculated at the end of maturity and the profit share return of the account are compared;
  • If the exchange difference return is less than the profit share return, only the profit share return will be paid to the customers at the end of the maturity.
  • If the exchange difference return is more than the profit share return, the profit share will be paid by our bank to the customer account. The difference between the exchange difference return and the profit share return will be transferred to our bank in TL by the CBRT to be reflected in the customer account.
• Accounts can be renewed at maturity over the gram gold purchase rate announced by the CBRT at 11:00 am. For renewed accounts, the gold purchase rate announced by the CBRT at 11:00 a.m. on the maturity date is considered to be the conversion rate.
• The account holder may partially withdraw money from the account on the maturity date if he/she wishes. The account can be renewed over the remaining amount.
• It is not possible to withdraw money from the account before the maturity date. If money is withdrawn before the maturity date, the account is closed and converted into a current account.
• If the account is closed before the maturity date;
  • If the gram gold purchase rate announced by the CBRT at 11:00 am on the date of closing of the account is lower than the conversion exchange rate, the account balance is updated at the gram gold purchase rate announced by the Central Bank of the Republic of Türkiye at 11:00 on the date of closing of the account. Profit share returns cannot be obtained and the difference between the exchange rates is transferred by the bank to the relevant TRY account of the Central Bank of the Republic of Türkiye to be transferred to the Treasury. Therefore, if the closure is made before the maturity, there may be a decrease in the principal balance due to a decrease in the gold exchange rate.
  • If the exchange rate announced by the Central Bank of the Republic of Türkiye at 11:00 on the date of closing of the account is higher than the conversion exchange rate, the CBRT will not make any payment for the exchange rate difference and therefore no dividend or return on exchange rate difference can be claimed for the account.
  • The additional return amount paid at account opening is deducted from the customer account.
  • The amount will be recalculated based on the minimum gold fineness value by deducting from the amount of gold calculated with profitable gold fineness at the account opening.
• The balance up to the amount of Gold converted into Turkish Lira at the beginning of the maturity date can be converted into a gold account at our branches between 11:00 - 12:00 at the end of the maturity date at the gold purchase rate announced by the CBRT at 11:00 and zero percent (0%) BITT rate.
• Withdrawals and account closures can be made between 11:00-17:00 on business days.
• A new account can be opened without waiting for the maturity date.

* Domestic resident real person: Refers to the real persons with legal domicile in Türkiye, including Turkish citizens who are workers, self-employed and private business owners abroad.

** Domestic resident legal person: It refers to legal entities with legal domicile in Türkiye, except for other financial institutions designated by the Banks and the Central Bank.

*** If the end of maturity coincides with the weekend or public holidays, it will be determined as the first business day.