- With CardFinans Nakit, you can shop at contracted merchants with minimum 2 and maximum 12 installments bu using the available balance in your account.
- The installment that is due is collected from your main account* at the time of purchase.
- Pending installments are debited to your main account, and credited to a term deposit account**. You will earn daily interest over your pending installments.
- On the due dates of pending installments, they are transferred from the term deposit account to the demand deposit account, and the installment amount is collected.
- Interest realization date of the term deposit account will be the opening date of your demand deposit account.*** Once a month, interest revenue is transferred to your demand deposit account. If you wish, you can change the interest realization date by applying to any QNB Finansbank Branch.
- If you have an Overdraft Account limit in place, you can also use it when shopping. Overdraft Account is a credit limit defined exclusively for you with the purpose of meeting your cash requirements, without the need to apply for a loan.
- The first installment amount of your shopping with the Overdraft Account is covered using the Overdraft Account limit, and daily interest starts to accrue as of the moment of transaction.
- The limit of the Overdraft Account is frozen for the total amount of outstanding installments, but no interest accrues.
- As the installments become due and are collected, a daily interest starts to accrue over the collected amounts.
- If, on the due date of an installment, there is sufficient balance in the demand deposit account, collection is made using this balance. The frozen limit of the Overdraft Account is released in the amount of the collected installment.
- Customer approval is not sought for “Using the Overdraft Account Limit”. However, the receipt of the POS device indicates this information.
For more information about the Overdraft Account, please visit the page "Fees for Products and Services".
*You have one main account that is linked to your debit card. When you are shopping, the POS device recognizes only this account.
** The amount of the first installment is not included in the amount that will be transferred to the term deposit account.
*** For the term deposit accounts that will be opened on weekends and official holidays, "Opening Date" will be the day the account is opened, "Value Date" will be the next business day, and the "Maturity Date" will be the next day after the value date.
Shopping in installments
- With your CardFinans Nakit card, you can shop in installments only at the contracted merchants of QNB Finansbank that provide installments.
- The number of installments is limited with the number of installments that the related contracted merchant applies.
- When you shop in installments, the first installment will always be collected from your account at the moment of the purchase.
- Pending installments will be collected from the account on respective due dates.
Pending installments
- Pending installments are the installments for which the due dates have not arrived.
- You can inquire your installments and billing statements on the Online Banking branch, via Telephone Banking by calling 0850 222 0 900, or at our branches.
Inquiring the debt of the Overdraft Account
- As long as you have installment payments and/or Overdraft Account payables, you will receive a billing statement once a month by mail.
- Additionally, you can prefer to have an e-billing statement sent to your e-mail address.
- You can inquire your debt for your Overdraft Account on the Online Banking channel, via Telephone Banking by calling 0850 222 0 900, at ATMs, and at our branches, and you can also pay using these channels.
Shopping in installments using the Overdraft Account limit
- If an Overdraft Account limit is defined for your main account linked to your card, you can use this limit for shopping in installments.
- When you shop in installments using the Overdraft Account limit, the interest starts to accrue as of the date of the first installment.
- No interest will accrue for pending installments until their due dates.
- On the due date of an installment, if you have sufficient funds in your account to cover the payment, no interest will accrue. This way, you pay less interest for shopping in installments that were made using the Overdraft Account limit.
Interest earned
- When you shop in installments with your CardFinans Nakit card, you earn interest for pending installments which are debited to your account at the moment of purchase.
- Interest accrues over pending installments which wait in a special term deposit account until their due dates, for which the rate is the Bank’s daily interest rate.
- As of the date of the account statement, interest earned is transferred to your demand deposit account.
- Transferred amount will be the net amount after taxes.
When I shop in installments with my CardFinans Nakit card, when will my daily term deposit account be opened?
When the account is initially opened, for example, if the opening date is 02/03/2013, the value date will be 03/03/2013, and the maturity date will be 04/03/2013. When this account is rolled over in the morning of 04/03/2013, the value date will be 04/03/2013, and the maturity date will be 05/03/2013.
For the term deposit accounts that will be opened on weekends and official holidays, "Opening Date" will be the day the account is opened, "Value Date" will be the next business day, and the "Maturity Date" will be the next day after the value date.
When an account is opened on 05/03/2013, the value date will be 06/03/2013, and the maturity date will be 09/03/2013. When this account is rolled over in the morning of 09/03/2013, the value date will be 09/03/2013, and the maturity date will be 10/03/2013.
Why should I shop in installments with my own money?
When you shop in installments with CardFinans Nakit card, the total amount of the pending installments is transferred to a term deposit account* and daily interest accrues over this account.
- For example, you have TRY 2,500 in your account, and want to make a purchase for TRY 1,800 in 9 installments. When you make this purchase with CardFinans Nakit**, the first installment, TRY 200, is collected from your account at the moment of purchase***.
- The remaining TRY 1,600 is moved from your demand deposit account to the term deposit account used for your purchases in installments. And you start earning interest.
- The return of such a purchase will be approximately TRY 14 for you.
- If you make a similar purchase once a month, it means earning approximately TRY 168 throughout the whole year.
* For the term deposit accounts that will be opened on weekends and official holidays, "Opening Date" will be the day the account is opened, "Value Date" will be the next business day, and the "Maturity Date" will be the next day after the value date.
** You have one main account that is linked to your debit card. During shopping, your CardFinans Nakit card recognizes only this account.
*** The amount of the first installment is not included in the amount that will be transferred to the term deposit account.
How will I follow the due dates of my installments?
When you shop in installments withCardFinans Nakit card, you do not need to follow the due dates of installments.
On the due dates of pending installments, they are transferred from the term deposit account to the demand deposit account, and the installment amount is collected.
When will I have my interest earning?
Interest earnings obtained from purchases in installments are transferred once a month to the demand deposit account.
The date of the interest earning transfer will by default be the opening date of your demand deposit account. (For example, if your related demand deposit account was opened on 21.05.2013, on the 21st of every month, or on the next business day if the 21st falls on a holiday, the accumulated interest of your term deposit account will be transferred to the demand deposit account).
If you wish, you can change your interest earning transfer day at any QNB Finansbank branch.
How is the daily interest rate determined?
It is 90% of the daily term deposit rate of our Bank.
I made a purchase in installments using the funds in my demand deposit account, can I withdraw the amount of pending installments?
No. In fact, you have also spent the amount of pending installments. However, the Bank holds those funds on your behalf in a term deposit account, and on the due dates, transfers the installment amounts to the demand deposit account for collection.
How can I use the Overdraft Account when shopping in installments?
- When you shop in installments using the Overdraft Account, the first installment is collected at the moment of purchase automatically.
- When all or a part of the purchase amount is used from the Overdraft Account limit, no interest will accrue on pending installments.
- If the account balance is positive on the due date of an installment, the collection first is deducted from that balance. In this case, no Overdraft Account limit is used.
- If the balance in the account is not sufficient to cover the installment amount, the remaining amount is collected from the Overdraft Account limit.
- The amount used from the Overdraft Account limit is not included in the amount that will be transferred to the term deposit account.
When can I close the term deposit account that was opened because of shopping in installments using the debit card?
Following a purchase in installments that was made by using CardFinans Nakit debit card, if there are no pending installments and the customer wishes to close the term deposit account, they can do so at the branch.
When the term deposit account associated with a debit card does not have any pending installments and is closed, the pending interest in the account is transferred to the related demand deposit account.