According to one of the writers from Dünya News, Resul Kurt, has stated in his article dated 6 April 2018 that “interest has risen in dowry and real estate prices.”It has been stated that the amount of government contribution to some form of personal savings have been increased from 20% to 25%.”
Government Incentives to Increase Thrift
The motivating agenda here is that the Turkish government is handing out grants for people who create “dowry accoutns” for marriage prospects and/or people who create “resident accounts” for raising their personal real estate purchasing funds. Nevertheless, few additional changes to the 7013th omnibus bill have been conducted in order to increase thrift and to provide resources and government contributions have been increased and it has been made easier to utilise government opportunities.
Savings Account Grant Conditions
In order to create a savings account in banks, it has been underlined that there are some conditions which have to be fulfilled according to Banking Laws. For dowry, one has to be a Turkish citizen or one who used to be a Turkish citizen. The accounts must be opened in Turkish liras and account owners must stay in the system for at least 3 years. They must not be over 27 years old and it must be their first marriage. Furthermore, the payments will be done monthly; min. 100 and max. 1000 Turkish Liras. In terms of 3 month payments, 3 times the given amount will be calculated.