Competition heats up in retiree promotions: Banks are paying up to 21,000 TL

Following the 15.75 percent increase in the pensions of millions of retirees this month and the rise of the lowest monthly pension from 12,500 liras to 14,469 liras, the promotion competition among banks has increased. In a system where 16.8 million retirees receive their pensions, competition among private banks has pushed the promotion amount up to 21,000 liras with additional payments. According to a report in Sabah Newspaper, it is stated that public banks are also preparing to take a significant step.

PROTOCOL SIGNED WITH 19 BANKS

Prior to the March 31 elections held last year, the Social Security Institution (SGK) had updated retiree promotions through a protocol signed with 19 banks. However, the high inflation and the increase in pension payments that have occurred since then have caused banks to reconsider their promotion campaigns.

Within the scope of the agreement to be made in March, it is expected that the ceiling payment amounts in the promotion campaigns of public and private banks will be increased.

CEILING TO BE RAISED TO 24 THOUSAND

While the current ceiling promotion is 12,000 TL, it is being discussed that after the regulations, the ceiling promotion amount for 2025 could double to reach up to 24,000 TL. In this case, the minimum promotion amount would be 10,000 liras.

It is noteworthy that in the new protocol, retirees who participated in the campaign last year will also be able to benefit from the increased promotions. In this context, retirees will receive not only the difference between the old and new amounts but a full payment according to the protocol period. Those who apply before their current promotion period expires will be able to receive additional payments based on the remaining part of their contract period.

Those receiving widow and orphan pensions can also benefit from promotion payments. Furthermore, unlike bonuses and monthly salaries, bank promotion payments for those receiving orphan and widow pensions are made on the entire payment amount, not on a per-share basis.

BANKS CAN BE CHANGED FOR HIGHER PROMOTIONS

Banks can be changed to receive a higher promotion fee. Those who want to move their pension before the promotion period expires can do so by paying a cancellation fee. In this case, the pension promotion is not completely voided, as you are only asked to pay for the remaining commitment period. Afterward, you can move your pension and receive a promotion from your new bank.

WHICH BANK IS OFFERING HOW MUCH PROMOTION?

ZİRAAT BANKASI - VAKIFBANK - HALKBANK

* 5,000 TL for those receiving up to 10,000 TL (excluding 10,000 TL)

* 8,000 TL for those receiving between 10,000 TL and 15,000 TL (excluding 15,000 TL)

* 10,000 TL for those receiving between 15,000 TL and 20,000 TL (excluding 20,000 TL),

* 12,000 TL for those receiving 20,000 TL and more

QNB: Customers who receive their pension from QNB are given a total retirement reward of up to 16,200 TL, consisting of a cash promotion of up to 15,000 TL and a 1,200 TL annual discount from the QNB Retiree credit card.

TEB: Customers who move their pension to TEB and commit to receiving it from TEB for 36 months earn a total promotion of up to 21,000 TL (9,000 TL additional promotion in addition to the main promotion of up to 12,000 TL).

DENİZBANK: In addition to a cash promotion of up to 12,000 TL, retirees who open a new account at Denizbank and promise to receive their salary for 3 years, and who own MobilDeniz, a Credit Card, an Automatic Bill Payment Order, and an Overdraft Account product, are offered an additional promotion of up to 8,000 TL depending on the salary amount.

İŞ BANKASI:

* 5,000 TL for those receiving a salary between 0 - 9,999 TL,

* 8,000 TL for those receiving up to 14,999 TL

* 10,000 TL for those receiving between 15,000 TL - 19,999 TL

* 12,000 TL for those receiving a salary of 20,000 TL and above.

GARANTİ BBVA: Offers a promotion opportunity of up to 15,000 TL for those receiving a salary of over 20,000 TL.

YAPI KREDİ: Offers a promotion opportunity of up to 20,000 TL for those receiving a salary of over 20,000 TL. It is possible to earn an additional 5,000 TL reward with a bill payment order and spending condition...

AKBANK: Retirees who move their pension to Akbank and commit to receiving their salary from the bank for 3 years can benefit from a promotion of up to 15,000 TL. In addition to this, SGK retirees who own an Akbank Demand Deposit account or Axess/Wings credit cards will be able to benefit from a reward opportunity of 17,500 TL in total, with 500 TL per bill for the first 5 new automatic bill payment orders they give, totaling 2,500 TL in chip-money.

ING BANK: It is possible to earn a cash promotion of up to 15,000 TL without additional conditions... Furthermore, up to 3,000 TL is paid for your Automatic Bill Payment Order and an additional 2,000 TL promotion is paid with the Orange Account (Turuncu Hesap).