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CORPORATE BANKING » CASH CREDITS » FOREIGN EXCHANGE CREDITS

FOREIGN CURRENCY LOANS

Foreign Currency Loans are extended to entities residing in Turkey to finance all business services (e.g sales and deliveries) categorized as exports and/or foreign currency earning activities.

Foreign Currency Loans are subject to special conditions as these loans incorporate export contracts. They are exempt from the Resource Utilization Support Fund as well as Banking and Insurance Transaction Taxes, but all export obligations for principal and interest are to be evidenced and documented. Failure to supply export documentation will result in both the Resource Utilization Support Fund and Banking and Insurance Transaction Taxes being collected on a pro rata basis with a penalty.

These loans are extended on spot or revolving terms.

Spot Foreign Currency Loans

Both the term and the interest rate are determined at inception and the interest rate is fixed for the duration of the loan. Both interest and principal are paid at maturity.

Revolving foreign currency credit

Interest on these loans accrues quarterly for the duration of the loan. The interest rate applied varies according to market conditions. The credit account may be closed out either partially or to entirety at any time before maturity.

Quarterly account statements are forwarded to the clients through a notary public at the end of each calendar quarter.

Pre-financing credit from international sources

These loans are extended to entities residing in Turkey to finance all business services (e.g sales and deliveries) categorized as exports and/or foreign currency earning activities. Both the term and the interest rate are determined in advance and the interest rate is fixed for the duration of the loan.

Both interest and principal are paid at maturity. As these loans incorporate export contracts, they are not subject to the Resource Utilization Support Fund or Banking and Insurance Transaction Taxes.

Working capital loans

These are loans secured by Anadolubank from international sources to finance client working capital needs. Both the term and the interest rate are determined at inception. The loan itself must be extended in Turkish liras. These loans are subject to either the Resource Utilization Support Fund or Banking and Insurance Transaction Taxes if the loan terms are greater than one year.

Redemption credits

Redemption loans are extended to corporate entities residing in Turkey to finance their unmatured receivables arising from business services (e.g., sales and deliveries) categorized as exports and/or foreign currency earning activities. The interest and charges related to such loans are collected up front and the principal is collected when the unmatured receivables are paid.