What is the monthly return on 250 thousand TL? Here are the current interest rates
Following the new limits introduced by the BRSA on consumer loans, there has been a revival in the credit market. While the decline in interest rates is noteworthy, consumers' search for the most suitable loans has gained momentum. Here is the monthly return on 250 thousand TL...
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With the Banking Regulation and Supervision Agency (BRSA) increasing the upper limits for personal loans, there is activity in the banking sector.
According to the new regulation, the upper limit for 36-month maturity loans has been increased to 125 thousand TL, and for 24-month maturity loans to 250 thousand TL. Previously, with the limitation introduced on June 9, 2022, these amounts were capped at 50 thousand TL and 100 thousand TL, respectively.
With the BRSA's updated limits, an upward momentum has been observed in the credit market.
According to the agency's data, the total volume of consumer loans was at the level of 2 trillion 20 billion TL in the week of January 17, and rose to 2 trillion 67 billion TL in the week of February 7. In the same period, the volume of personal loans increased from 1 trillion 431 billion TL to 1 trillion 470 billion TL. Thus, the ratio of personal loans within total consumer loans reached 71.11%.
DECLINE IN INTEREST RATES
While consumers' search for the “most affordable personal loan” has gained momentum following the new regulation, banks have also revised their interest rates.
According to the news in Türkiye Gazetesi, while the lowest interest rate for 36-month maturity 125 thousand TL loans remained stable at 2.99% last week, the interest rate for 24-month maturity 250 thousand TL loans fell to 3.39%, reaching a new low.
WHICH BANKS OFFER THE LOWEST INTEREST RATE FOR 36-MONTH MATURITY?
-Denizbank: 2.99% -Garanti BBVA: 3.19% -Alternatif Bank: 3.29% -ING Bank: 3.34% -ON Dijital: 3.39%
WHAT IS THE MONTHLY AND TOTAL REPAYMENT FOR 125 THOUSAND TL WITH A 36-MONTH MATURITY? -
Amount: 125 thousand TL -Maturity: 36 months -Lowest Rate: 2.99% -Bank: Denizbank -Monthly Installment: 6 thousand 508 TL -Total Repayment: 234 thousand 280 TL
WHAT IS THE MONTHLY AND TOTAL REPAYMENT FOR 250 THOUSAND TL WITH A 24-MONTH MATURITY?
Amount: 250 thousand TL -Maturity: 24 months -Lowest Rate: 3.39% -Bank: ON Dijital -Monthly Installment: 17 thousand 87 TL -Total Repayment: 411 thousand 339 TL
