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Türkiye will raise the maximum amount of money guaranteed in bank accounts to ₺1.2 million ($28,182), starting in 2026, according to a communique published in the Official Gazette.
The decision, announced by the Savings Deposit Insurance Fund (TMSF), increases the current coverage limit of ₺950,000 and applies to both interest-bearing and interest-free accounts.
Under Türkiye’s deposit insurance system, if a licensed bank fails, individual account holders are reimbursed by the government up to a certain limit through the TMSF. The updated cap of ₺1.2 million means that more of each person's savings will now be covered in case of insolvency.
The system covers both interest-bearing deposit accounts and Islamic-style participation funds, which operate on profit-sharing principles rather than interest, and both are eligible for state-backed protection.
The adjustment comes as part of the institution’s routine annual revision, which aligns the deposit insurance ceiling with inflation developments.
As of Dec. 5, total deposits in Türkiye’s banking sector stand at ₺26.81 trillion ($629.63 billion), comprising ₺14.53 trillion in Turkish lira accounts and $249.42 billion in foreign currency holdings, $212.07 billion of which belong to residents.
According to the latest data from the Banking Regulation and Supervision Agency (BRSA), the country has 192.95 million depositors in total, with 190 million residents and 2.89 million non-residents. Among them, 2.79 million hold more than ₺1 million in their accounts, including 2.57 million residents and 216,438 non-residents.
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