Dowry Account | DenizBank

In Dowry Account, your savings are growing even further with additional 25% state subsidy

Open a Dowry Account before getting married, be at ease after your marriage!

Come to Deniz and open a Dowry Account* whether for yourself or for your child and benefit from the state subsidy up to TL 9,000.00 in addition to your savings.

Features

  • If you are under the age of 24, you can open a Dowry Account for yourself or for your child with whom you have a parent/guardian relationship. The account holder must be a citizen of the Republic of Turkey.
  • Dowry Account can only be opened in Turkish Lira. You cannot open more than one dowry account or a joint dowry account.
  • Your Dowry Account is opened with a maturity of 3 years and is automatically renewed at the end of the term if you do not have instructions otherwise.
  • In line with your instructions, you can give regular savings orders for your Dowry Account from your demand deposit account or DenizBank credit card.
  • You can set your regular payments** either monthly or quarterly.
  • If you choose a regular monthly payment, you will make regular payments between TL 155.26 and 1,552.65; and if you choose a regular quarterly payment, your regular payments will be between TL 465.78 and 4,657.95.
  • If you wish, you can open your account with an initial amount between your regular payment amount and TL 23,289.62.
  • The accumulated interest amount of your Dowry Account for the relevant year is added to your principal annually.
  • When regular payment amount cannot be collected, partial collection not less than the minimum regular payment amount takes place. Payments made as partial collections are also considered as “regular payments”.
  • Interest continues to accrue over the new advantageous interest rate determined at the beginning of the following 1-year period. DenizBank undertakes that the interest rates of the following years will be 0.50% higher (in TL) than the average of the highest interest rates announced by the big four private banks for deposits with 365-day maturity.
  • If you do not deposit money into your dowry account for 4 consecutive months, the account will lose its accumulating feature; therefore your balance of the account will be transferred to your demand deposit accounts and the Dowry Account will be closed down.

Who Can Benefit from the State Subsidy?

Customers who have deposited savings duly into their Dowry Account for a minimum of 3 years and who have made their first marriage before the age of 27 can benefit from the state subsidy.

In addition, you must meet the following conditions in order to maintain your account as a Dowry Account.

  • If your regular payments are monthly, the maximum number of delinquencies you may have is 3 annually; and if your regular payments are quarterly, the maximum number of delinquencies you may have is 1 annually
  • You can withdraw money from the account up to twice a year
  • The remaining balance of the account after the money withdrawal should not be less than the sum of the minimum amounts that must be deposited to the dowry account as from the opening date

How to Calculate the State Subsidy?

  • The state subsidy calculation will be based on the principal accumulation on your marriage date.
  • The interests accrued to your account will not be included in the state subsidy calculation
  • The state subsidy payment shall not exceed 25% of the total savings amount on your marriage date, not exceeding TL 9,000.00.
  • The state subsidy ratio and the maximum amount to be paid are as follows.
Dowry Account Table
Accumulation Period State Subsidy Max Payment Amount
Less than 36 months Not paid Not paid
36-47 months Accumulation Amount *20% TL 6,500.00
48-59 months Accumulation Amount *20% TL 7,500.00
60 months and above Accumulation Amount *25% TL 9,000.00

Dowry Account Interest Rate

Maturity Regular Payment Amount Interest Rate
3 years at minimum Min TL 155.26 Max TL 1,552.65 for monthly payments 11.80%
Min TL 465.78 Max TL 4,657.95 for quarterly payments

*The interest rates indicated are annual, gross and simple interest rates.

How can I open an account?

You can open your Dowry Account at the nearest DenizBank Branch

*The Regulation on State Subsidy in Dowry Account was signed by the Council of Ministers and promulgated in the Official Gazette dated 16/12/2015 and numbered 29564.
In order to be eligible for the state subsidy, regular payment must be made to the account for at least 3 years before the date of marriage in line with the Dowry Account rules specified in the relevant regulation and the first marriage must be made before the age of 27.
The State Subsidy shall not exceed 25% of the total savings amount on the marriage date, not exceeding TL 9,000.00.
** Minimum and maximum regular payment amounts increase and decrease each year up to the valuation rate announced each year. These changes apply to all existing and new customers.
*** The revaluation rate announced for 2019 is 23.73%.

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