What is a Gold Participation Account?
Gold participation account is a type of account providing interest-free return by which you can get profit share from the appreciation of gold and from your participation account you opened at maturities you have determined.
Why Should I Open a Gold Participation Account?
Ziraat Katılım gold participation account offers the opportunity to make good use of your savings in gold. You can take advantage of the attractive profit share rates offered by the gold participation account by visiting our branches.
- It gives you the opportunity to earn profit share while making good use of your savings in gold without the risk of being stolen or lost.
- You can open your participation account with a starting limit of at least 50 GRAMS.
- You can open your GRAM gold participation accounts with a term of 3 months, 6 months or 1 year.
- Income tax is deducted from the gross earnings of your profit due to the legal obligation.
Savings
Opportunity to make good use of your savings in gold.
Profit Share
Add profit share to your gold savings as well.
Let Us Keep
Let's convert your gold into grams which worth its value and let's keep them with Ziraat Katılım assurance.
Create an account
All you have to do is to open an account or to create a participation account by logging into our internet branch.
Channels Through Which A Gold Participation Account Can Be Opened
Sharing and Withholding Rates
| Opening Balance EURO | 3 Month | 6 Month | 1 Year | More Than 1 Year |
|---|---|---|---|---|
| 50 GRAM | 10/90 | 10/90 | 10/90 | 10/90 |
| 50 + GRAM | 10/90 | 10/90 | 10/90 | 10/90 |
| Withholding Rate | 15% | 15% | 15% | 15% |
Participation Fund Insurance
The portion of unit account values of participation accounts as well as the special current accounts, (official organisations, credit agencies and financial institutions are excluded), in Turkish Lira, foreign exchange and precious metals, in the domestic branches of a deposit bank operating in Turkey, up to 650 thousand Turkish Liras for each person are under the guarantee of Insurance;
however, even if it remains within the limit of 650 thousand TL above,
the portion of the profit shares accrued to participation accounts as of the date on which the operating license of the participation bank whose account holders are to be paid by the fund is revoked, exceeding the amounts to be calculated over the average of the profit shares applied by the three participation banks with the highest sum of participation fund is not included in the scope of insurance.
The following deposits are not subject to insurance:
* Participation funds and other accounts belonging to the bank's controlling shareholders or qualified shareholders, real person’s parents, spouses and children under their custody.
* Participation funds and other accounts belonging to the Bank's Chairman and members of the Board of Directors, General Manager and his/her assistants, as well as the legal entities and partnerships they control alone or together, and and their parents, spouses and children under their custody.
* Participation funds and other accounts included in the scope of the property values arising from crime under Article 282 of the Turkish Criminal Law No. 5237 on 26th of Sept , 2004.
*Participation funds at financial institutions established in Turkey exclusively for off-shore banking activities.
* Payments within insurance coverage are made in Turkish Liras.
* While determining the amount to be paid within insurance coverage, participation account unit account values are taken into account based on special current account balances.
* Turkish Lira equivalents of foreign exchange accounts are determined on the basis of the buying rate of exchange of Central Bank on the date when bank's operating license was revoked.
* On the other hand, Turkish Lira equivalents of accounts in precious metal are determined on the basis of Istanbul Gold Exchange session closing price and the buying rate of exchange of Central Bank on the date when bank's operating license was revoked.
