Housing Account | Housing Account | DenizBank

With Housing Account, your savings are growing with an additional 25% state subsidy!

Have your Housing Account now, buy your house easily later on.

Come to Deniz, open a Housing Account* and benefit from an additional 25% state subsidy on your savings.

Features

  • If you do not have a house fully owned by you before the date 07/04/2015, you can open a Housing Account. To be able to open a Housing Account, the account holder must be a Turkish citizen.
  • You can give regular savings order for your Housing Account from your demand deposit account or your DenizBank credit card.
  • Your Housing Account will be opened with a maturity of 3 years and automatically renewed at the end of the maturity term, unless you have ordered otherwise.
  • You can open a Housing Account only in Turkish Lira.
  • If you choose monthly regular payments, you can make regular payments between TL 388.17 and 3,881.60; and if you choose quarterly regular payments, you can make regular payments between TL 1,164.51 and 11,644.80.
  • At the opening of the account, the initial payment amount between TL 46,579.24 and the regular payment amount can be deposited. This amount increases or decreases each year according to the valuation rate announced every year.
  • You can set your regular payments** either monthly or quarterly.
  • As for the orders given from the demand deposit account, you can update your regular payment days, your regular payment amount (to be between the limits) and your credit card number within the maturity term.
  • The accumulated interest amount of your Housing Account for the relevant year is added to your principal amount 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 Housing 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 Housing Account will be closed down.

What are the conditions for applying to the State Subsidy?

If you meet the conditions set out below, your account will be maintained as a Housing Account and you will be eligible for state subsidy.

  • 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
  • In case of both payment delinquency and money withdrawal, the balance remaining in the account should not be less than the total sum of the minimum amounts to be deposited as from the opening date of the housing account

What are the conditions for applying to the State Subsidy?

The account holders who have accumulated in accordance with the housing account rules for a minimum of 3 years and who does not have a house of their own (fully) before and after 07/04/2015 may benefit from the state subsidy.

  • The state subsidy calculation will be based on the principal accumulation on the date of house purchasing.
  • The interests accrued to your account will not be included in the state subsidy calculation.
  • State subsidy payment shall not exceed 25% of the total amount of the accumulation at the date of house purchase, not exceeding TL 24,746.00.
  • The state subsidy ratio and the maximum amount to be paid are as follows.

State Subsidy Table

Accumulation Term* State Subsidy* Max. Payment Amount*
Less than 36 months Not Paid Not Paid
36-47 months Accumulation Amount *15% 16,313.21
48-59 months Accumulation Amount *18% 17,568.08
60 months and above Accumulation Amount *25% 24,746.00

Housing Account Interest Rate

Maturity Regular Payment Amount Interest Rate
Min. 3 years Min TL 388.17 Max TL 3,881.60 for monthly payments 11.80%
Min TL 1,164.51 Max TL 11,644.80 for quarterly payments

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

How can I open an account?

You can open a Housing Account by visiting the nearest DenizBank Branch.

*The Council of Ministers decided to enforce the Regulation on Housing Account and State Subsidy on 22/02/2016 in accordance with the additional article 2 of the Decree Law No. 633 dated 3/6/2011 upon the Letter no. 4718 of Undersecretariat of Treasury dated 9/2/2016. In order to qualify for the state subsidy, the account holder must be saving in accordance with the housing account rules for a minimum of 3 years and not have a house of their own (fully) before and after 07/04/2015. The state subsidy cannot exceed 25% of the accumulation amount and TL 24,746.00.
** 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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