Although banking terms are frequently used in daily routine, their names and meanings can sometimes be confused. Especially if this term comes from another language and settled in our language, it can be a bit difficult to find its equivalent. Valor is one of them.
What is Value?
Valor, which was translated into Turkish from French, means value. In daily use, it is mostly in the form of value date, that is, value date. As a banking term, value is defined as the value between the execution date of a transaction and the date it occurs.
What is Value Date?
While performing banking transactions, this term is used not only as "value date" in the language, but more as "value date".
Value date is the first day when interest starts to accrue in deposit and loan accounts for banks. Generally, banks give the value date in their deposit accounts one day after the transaction order.
The question of what is a value is encountered in three main situations:
- The first of these is the day difference between the time deposit account opening and the date on which the interest will start to accrue;
- Secondly, the difference in days between the transfer order and the transfer of the money to the other account in money transfers;
- The third one represents the day when the interest on loan borrowings will start.
What is Sport Value?
This concept, which has become widespread in the language as a sport value date, but is actually spot date, means that some transactions in the markets are instructed with a 2-day value date.
The reason for this two-day value is procedural transactions such as funding, preparation and control of the necessary documents for the transaction. When these requirements are met within these two working days, the money is made available to the person.
For example, in this framework, with the spot value date, which is traded on Monday, the money is transferred to the person's account on Wednesday.
What Does the Value Written on the Receipt Mean?
In the past, the BRSA had a 100.000-day value application for purchases of 100 dollars and more in foreign currency and 1 grams or more of gold. This application required a 1 day difference between the transaction day of the purchased amount and its availability.
After these transactions were made, the receipt given by the bank had the value date. This practice is no longer in effect; However, this date, which is written both in these transactions and on the receipts after other instructions are given, can cause confusion.
How is Value Calculated?
The value date, which is of great importance especially in the opening of a time deposit account, can be calculated according to the day given by the bank at the time of opening the account. With the value calculation, it is possible to find the real interest offered by the bank.
This calculation also has a very simple formula: t (that is, for how many days the money is invested in interest) / t+x (how many days the value is) x the interest rate given by the bank.
We can exemplify this as follows: When a deposit is deposited in a bank with 30% interest for 11 days with a 1-day value, the rate of 30/31 x 11 = 10,6 is reached. In other words, when a time deposit account is opened with the same savings, the real interest yield is 11%, not 10,6%. Value value, which gains value according to the volume of the deposit, can be easily found by calculating and negotiated with the bank for better interest conditions.
Knowing what the value date is and how it is calculated helps to make more profitable deals and preserve the value of money when depositing savings in a time deposit account, buying in the market or paying off loan debt.
The information contained in the content has been calculated according to the rates announced on the date of publication.
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