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CORPORATE BANKING » CASH CREDITS » FOREIGN CURRENCY LOAN - TURKISH LIRA INDEX

FOREIGN CURRENCY INDEXED TURKISH LIRA LOANS

These loans are extended in Turkish liras and subsequently indexed to a foreign currency specified at inception. While the actual currency  booked for these loans is Turkish Lira, interest rates will be recorded according to the indexed foreign currency. Both interest and principal are paid at maturity. Both the interest and currency translation gains on these loans are subject to the Resource Utilization Support Fund and Banking and Insurance Transaction Taxes. Unlike export credit, a foreign currency indexed loan is free from export obligation. 

Benefits of Foreign Currency Indexed Turkish Lira Loans

  • Provides cover for short term financing needs
  • Financial gains are achieved when rate increases occur below the TL interest rate 
  • Offers an alternative foreign currency credit facility for firms who wish to match the currency of their accounts with the currency of their export income