Frequently Asked Questions

The deposit and participation fund insurance is a guarantee for losses to be incurred by the deposit and participation holders being paid partially or wholly by the government or an institution established for this purpose in the event that operating licenses of the deposit and participation banks (credit institutions) authorized to collect deposit and participation fund are revoked by the Banking Regulation and Supervision Agency. Authority and duty to insure the deposit and participation funds in Türkiye are entrusted to the Savings Deposit Insurance Fund (SDIF/FUND),which is a public entity.

The deposit and participation funds available in the branches of the domestic and foreign credit institutions, which carry on business in Türkiye, are competent for acceptance of deposit and participation fund, and the credit institutions, which head offices are located abroad, are subject to the insurance systems.

 

The insurance limit of deposit and participation fund for the year of 2026 is 1,200,000 Turkish Liras (TRY) for each person in each credit institution. This amount is increased each year, taking into account the revaluation rate announced for the previous year. effective from the beginning of the calendar year, by the Fund Board.

 

Over the years, the amount of the insurance limit has changed as follows:

 

YEARS
INSURANCE LIMIT (TRY)
15.02.2013 - 25.09.2019 100.000
25.09.2019 - 31.12.2021 150.000
2022 200.000
2023 400.000
2024 650.000
2025 950.000
2026 1.200.000

 

In the domestic branches of a credit institution operating in Türkiye, other than those belonging to official institutions, credit institutions and financial institutions in Turkish Lira, foreign currency and precious metals;

1. The capital of the deposit accounts and total of interest rediscounts,

2. Unit account values of the participation accounts and the private current accounts,

up to TRY 1,200,000 * per each individual are insured.

* This amount is increased each year, taking into account the revaluation rate announced for the previous year. effective from the beginning of the calendar year, by the Fund Board, in accordance with the second sub-clause of the article 4 of the “Regulation on Deposits and Participation Funds Subject to Insurance and Premiums Collected by Savings Deposit Insurance Fund” published in the Official Gazette No. 26339 of 11.07.2006 in line with the third sub-clause of the article 63 of the Banking Law No. 5411.

Yes. Capital of the deposit accounts opened by local or foreign persons, who live abroad, in the domestic branches and total of the interest rediscounts related to these accounts, unit account values of the participation fund and private current accounts are subject to the insurance coverage up to TRY 1,200,000

No. Deposit, participation or private current accounts opened in the foreign branches of the credit institutions are not subject to the insurance coverage.

Yes. All deposits and participation funds in credit institutions (savings accounts, commercial institutions accounts and other institutions accounts) other than those belonging to official institutions, credit institutions and financial institutions, shall be insured by the Savings Deposit Insurance Fund.

No. Accounts opened in the credit institutions carrying on off-shore banking business are not subject to the insurance coverage.

No. It is not allowed that the credit institutions, which carry on business in Türkiye and are competent for acceptance of the deposit and participation fund, and their partnerships established abroad accept the deposit or participation fund from the persons residing in Türkiye on behalf of other banks or financial institutions, maintain document or bank book, employ personnel, direct their customers to the aforesaid institutions by means of advertising these institutions, accept the deposit and participation funds on behalf of the institutions established abroad by means of this and similar methods.

In accordance with the article 5 of the “Regulation on Deposits and Participation Funds Subject to Insurance and Premiums Collected by Savings Deposit Insurance Fund” published in the Official Gazette No. 26339 of 11.07.2006 in line with the third sub-clause of the article 63 of the Banking Law No. 5411;

i. The deposits, participation funds and other accounts belonging to controlling shareholders or qualified shareholders of the relevant credit institution and the legal entities controlled by these shareholders, as well as mothers, fathers, spouses and children under custody of the real person controlling shareholders and other accounts,

ii. The deposits, participation funds and other accounts belonging to the chairman and members of the board of directors or board of managers, the general manager and deputy general managers of the relevant credit institution and the legal entities and partnerships that they individually or jointly control as well as mothers, fathers, spouses and children under custody of them,

iii. The deposits, participation funds and other accounts covered by assets derived from crimes as referred to in Article 282 of the Turkish Criminal Code no. 5237 dated 26.9.2004.,

iv. The deposits and participation funds in the credit institutions that were established exclusively to implement off-shore banking activities in Türkiye,

v. The deposits, participation funds and other accounts determined by the Fund Board in consulting with the Banking Regulation and Supervision Agency,

  are not subject to the insurance coverage.

No. The investment instruments such as government bond, treasury stock, investment fund which are sold through the credit institutions, and cryptoassets are not subject to the insurance coverage.

Yes. Due to banking transactions in the free zones being in the scope of the Banking Law No. 5411, accounts of the credit institutions in the branches located in free zones are also subject to the insurance coverage..

Yes. These accounts are also subject to the insurance coverage. In the event that parantel guardian or custodian have other deposit or participation account belonging to him/her in the same credit institution, account of the parental guardian or custodian is also subject to the insurance coverage. The one under age and parental guardian benefit separately from the deposit assurance amount.

Accounts of a person which are in more than one deposit bank are calculated separately for each bank. In other words, proportion up to TRY 1,200,000 of capital of these accounts and interest rediscounts related to these accounts is separately in the scope of the insurance coverage for each bank.

 

Deposit Bank A

Insured Proportion

Deposit Bank B

Insured Proportion

Total Insured Deposit

Mete

TRY 100,000

TRY 100,000

TRY 460,000

TRY 460,000

TRY 560,000

Limited Company A

TRY 200,000

TRY 200,000

TRY 160,000

TRY 160,000

TRY 360,000

B Cooperative

TRY 500,000

TRY 500,000

TRY 1,000,000

TRY 1,000,000

TRY 1,500,000

Accounts of a person which are in more than one deposit bank are calculated separately for each bank. In other words, proportion up to TRY 1,200,000 of unit account values of the participation accounts and the private current accounts is separately in the scope of the insurance coverage for each bank.

 

 

Participation Bank A

Insured Proportion

Participation Bank B

Insured Proportion

Total Insured Participation Fund

Cengiz

TRY 60,000

TRY 60,000

TRY 480,000

TRY 480,000

TRY 540,000

Emre

TRY 210,000

TRY 210,000

TRY 220,000

TRY 220,000

TRY 430,000

Incorporated Company D

TRY 640,000

TRY 640,000

TRY 1,000,000

TRY 1,000,000

TRY 1,640,000

In the event that a person has more than one deposit account in a deposit bank or its different branches, proportion up to TRY 1,200,000 of the total deposit accounts belonging to the person is subject to the insurance coverage.

 

 

Adana Branch of Deposit Bank A

Rize Branch of Deposit Bank A

Kars Branch of Deposit Bank A

Total Deposit Sum in Deposit Bank A

Insured Deposit Sum in Deposit Bank A

Unlimited Company E

TRY 200,000

TRY 220,000

TRY 160,000

TRY 580,000

TRY 580,000

Hakan

TRY 350,000

TRY 400,000

TRY 550,000

TRY 1,300,000

TRY 1,200,000

In the event that a person has more than one participation or current account in a participation bank or its different branches, proportion up to TRY 1,200,000 of the total participation or current accounts belonging to the person is subject to the insurance coverage.

 

 

Trabzon Branchof Participation Bank A (Unit Account Value of Participation Account)

Taksim Branchof Participation Bank A (Private Current Account)

Malatya Branchof Participation Bank A (Unit Account Value of Participation Account)

Total Participation Account Unit Value and Private Current Account Sum in Participation Bank A

Insured Participation Account Unit Value and Private Current Account Sum in Participation Bank A

Limited Partnership F

TRY 200,000

TRY 140,000

TRY 140,000

TRY 480,000

TRY 480,000

Tunç

TRY 200,000

TRY 300,000

TRY 750,000

TRY 1,250,000

TRY 1,200,000

The insurance sum related to accounts of a person in both deposit and participation bank is separately calculated for each credit institution; in other words, proportion up to TRY 1,200,000 of capital of deposit accounts and the total of interest rediscounts related to these accounts, the unit account value of the participation accounts and their private current accounts is separately subject to the insurance coverage.

 

 

Deposit Bank A

Insured Proportion

Participation Bank B

Insured Proportion

Total Insured Deposit and Participation Fund

Apartment Building Management Account G

TRY 500,000

TRY 500,000

TRY 360,000

TRY 360,000

TRY 860,000

Elif

TRY 1,200,000

TRY 1,200,000

TRY 500,000

TRY 500,000

TRY 1,700,000

The insurance coverage of the partners in joint account is separately calculated for each partner. In the event that shares of partners in joint account are not specified, it is deemed each account owner to have equal share.

 

Deposit Bank A

(Joint Account)

Insured Proportion

Participation Bank B (Joint Account)

Insured Proportion

İlanur

TRY 2,500,000

TRY 1,200,000

TRY 200,000

TRY 100,000

Oya

TRY 1,200,000

TRY 100,000

 

 

In the event that partners in joint account have other separate accounts in the same bank, proportion up to TRY 1,200,000 of the sum in joint account and total amounts in other accounts will be subject to the insurance coverage.

 

Deposit Bank A

 (Joint Account)

Deposit Bank A

(Second Deposit Account)

*Sum of Accounts

Insured Proportion

Cemal

TRY 1,800,000

TRY 400,000

TRY 1,300,000

TRY 1,200,000

Mertcan

TRY 60,000

TRY 960,000

TRY 960,000

 

*In this example, it is deemed partners in joint account to have equal share. According to this, shares of Cemal and Mertcan in TRY 1,800,000 stand for TRY 900,000 for each of them.

While calculating the insurance amount for the savings deposit account of a person in a deposit bank and the account belonging to a real person commercial business (pharmacy, grocery store, barber shop, etc.), one real person for the savings deposit account and one real person for the commercial account considered as two separate persons. In other words, the person who has both a savings deposit account and an account belonging to a real person commercial business in the deposit bank is considered as two separate persons for their accounts and the insurance limit is calculated separately for each person. Thus, up to TRY 1,200,000 of the sum of the principal of the savings deposit and the interest rediscount related to this account, as well as the principal of the account belonging to the real person commercial business and up to TRY 1,200,000 of the sum of the interest rediscount related to this account are covered by the insurance.

 

 

Deposit Bank A

(Savings Deposit Account)

Insured Proportion

Deposit Bank A

(Account Belonging to a Real Person Commercial Business)

Insured Proportion

Total Insured Deposit

Neşe

TRY 200,000

TRY 200,000

TRY 460,000

TRY 460,000

TRY 660,000

Başak

TRY 600,000

TRY 600,000

TRY 300,000

TRY 300,000

TRY 900,000

Kaan

TRY 1,500,000

TRY 1,200,000

TRY 100,000

TRY 100,000

TRY 1,300,000

While calculating the insurance amount for the participation account/private current account of a person in participation bank and the account belonging to a real person commercial business (pharmacy, grocery store, barber shop, etc.), one real person for the participation account/private current account and one real person for the commercial account considered as two separate persons. In other words, the person who has both a participation account/private current account and an account belonging to a real person commercial business in the participation bank is considered as two separate persons for their accounts and the insurance limit is calculated separately for each person. Thus, up toTRY 1,200,000 of the sum of unit account values of the participation fund and private current accounts, as well as up to TRY 1,200,000 of the sum of unit account values of the participation fund and private current accounts of account belonging to the real person commercial business are covered by the insurance.

 

 

Deposit Bank A

(Participation Account/Private Current Account)

Insured Proportion

Deposit Bank A

(Account Belonging to a Real Person Commercial Business)

Insured Proportion

Total Insured Participation Fun

Teoman

TRY 150,000

TRY 150,000

TRY 700,000

TRY 700,000

TRY 850,000

Batu

TRY 600,000

TRY 600,000

TRY 1,300,000

TRY 1,200,000

TRY 1,800,000

Yiğit

TRY 200,000

TRY 200,000

TRY 300,000

TRY 300,000

TRY 500,000

 

No. In accordance with the sixth sub-clause of the article 63 of the Law No. 5411, the SDIF pays only the insured proportion of the deposit and participation fund in the credit institutions with a revoked operating license.

All insured payments are made in TRY.

TRY equivalent of the foreign currency accounts is determined based on the forex buying of exchange rates of The Central Bank of the Republic of Türkiye on the date when the operating license of the relevant credit institution is revoked and TRY equivalent of accounts in precious metal is determined based on the final quotation of the Istanbul Gold Exchange and the forex buying of exchange rates of The Central Bank of the Republic of Türkiye on the date when the operating license of the relevant credit institution is revoked.

In accordance with the sub-clause 3 of the article 10 of the “Regulation on Procedures and Principles related to the Payment and Liquidation of the Insured Deposit and Insured Participation Fund in Banks with a Revoked Operating License” introduced in the Official Gazette No. 26443 of 02.23.2007, the payment period and determination of the insured proportion of the deposit and participation fund, which accuracy is confirmed in a way to leave no room for doubt, are 3 months following the date when the operating license of bank is revoked. This period may be extended for three months, if needed. In the event that the period is not sufficient due to force majeure, this period may be extended two times by the Fund's Board, not more than three months for each. Payments are made directly according to the resolution of the Fund's Board or via a bank to be announced by the SDIF.

In case of bankruptcy of the credit institutions, owners of the deposit and participation funds are the privileged creditors in terms of third rank in the article 206 of the the Law No. 6183 on Collection Procedure of Public Receivables for the part not subject to the insurance, following the privileged creditors of the SDIF and creditors of public institutions and social security institutions in the scope of the Law No. 6183 on Collection Procedure of Public Receivables. The written request of the creditor is necessary to register these creditors in their respective ranks in the Bankrupt's Estate.

Yes. According to Article 10 of the “Regulation on Deposits and Participation Funds Subject to Insurance and Premiums Collected by Savings Deposit Insurance Fund” published in the Official Gazette dated 07.11.2006 and numbered 26339, the credit institutions are obliged to announce the content of written documents to be determined by the SDIF regarding the insurance of deposit and participation fund accounts in a visible place of their branches and digital media.