Banks have updated interest rates: How much is the repayment for a 1 million TL housing loan?

The repayment of a mortgage varies depending on the interest rates and options set by the banks. While the monthly installment amount decreases if the borrower chooses a longer maturity period, there is a significant increase in the total repayment amount.

INTEREST RATES FOR A 1 MILLION TL MORTGAGE

For short-term mortgages, the interest rate is lower, but monthly payments are higher.

So, what is the monthly installment and repayment for a 1 million TL mortgage with a 120-month maturity? According to NTV, the monthly installments and total payment amounts by bank are as follows...

AKBANK

Interest Rate: 2.89%

Monthly Installment: 29,878.54 TL

Total Payment: 3,605,044 TL

ALBARAKA

Profit Share Rate: 3.00%

Monthly Installment: 30,889.92 TL

Total Payment: 3,724,550 TL

İŞ BANKASI

Interest Rate: 3.10%

Monthly Installment: 31,815.84 TL

Total Payment: 3,839,600 TL

ING

Interest Rate: 3.24%

Monthly Installment: 33,121.69 TL

Total Payment: 3,990,862 TL

VAKIF KATILIM

Profit Share Rate: 2.99%

Monthly Installment: 30,797.66 TL

Total Payment: 3,710,619 TL

GARANTİ

Interest Rate: 3.03%

Monthly Installment: 31,167.07 TL

Total Payment: 3,761,153 TL

KUVEYT TÜRK

Profit Share Rate: 3.09%

Monthly Installment: 31,722.98 TL

Total Payment: 3,822,348 TL

QNB

Interest Rate: 2.84%

Monthly Installment: 29,421.45 TL

Total Payment: 3,547,701 TL

ZİRAAT BANKASI

Interest Rate: 3.09%

Monthly Installment: 31,722.98 TL

Total Payment: 3,819,131 TL

ALTERNATİF BANK

Interest Rate: 3.29%

Monthly Installment: 33,590.60 TL

Total Payment: 4,044,172 TL

VAKIFBANK

Interest Rate: 3.30%

Monthly Installment: 33,684.53 TL

Total Payment: 4,058,143 TL

HALK BANKASI

Interest Rate: 3.40%

Monthly Installment: 34,626.53 TL

Total Payment: 4,173,883 TL

ZİRAAT KATILIM

Interest Rate: 3.50%

Monthly Installment: 35,573.17 TL

Total Payment: 4,279,345 TL

DENİZBANK

Interest Rate: 4.21%

Monthly Installment: 42,400.78 TL

Total Payment: 5,101,192 TL

ODEA

Interest Rate: 6.99%

Monthly Installment: 69,921.06 TL

Total Payment: 8,401,103 TL

ANADOLU BANK

Interest Rate: 5.25%

Monthly Installment: 52,613.36 TL

Total Payment: 6,326,803 TL