Drop in loan interest rates following Central Bank interest rate decision! How much is the repayment for 50,000 and 100,000 TL?

The Central Bank cut its policy rate from 50 percent to 47.50 percent last month with a 250 basis point reduction. A similar 250 basis point cut is expected at the Monetary Policy Committee meeting to be held on January 23.

Markets have turned their attention to consumer loan interest rates. The first reduction occurred at the beginning of this week in housing loan interest rates. The lowest interest rate for a 120-month maturity housing loan fell to 2.79 percent.

A decline is also expected in the interest rates for "personal loans," which make up the largest volume of consumer loans. According to figures released by the Banking Regulation and Supervision Agency (BDDK), the volume of personal loans, which stood at 1 trillion 401 billion TL in the week of December 20, approached 1 trillion 425 billion TL in the following week ending December 27.

In this period, which points to the fastest increase in recent weeks, the loan volume recorded a rise of 24 billion liras.

According to the report in Türkiye Gazetesi, when looking at the personal loan interest rates offered by banks, an increase is observed in options at 4 percent and below.

As of January 8, 2025, there are differences in the most favorable personal loan interest rates depending on maturity and amount.

WHAT IS THE REPAYMENT PLAN FOR 50,000 TL?

- For a 12-month maturity, Alternatif Bank offers the lowest rate at 2.99%. The monthly installment is 5,293 TL and the annual repayment is 63,763 TL.

- For a 24-month maturity, Getir Finans offers the lowest rate at 3.66%. The monthly installment is 3,539 TL and the 2-year repayment is 84,929 TL.

- For a 36-month maturity, QNB offers the lowest rate at 3.54%. The monthly installment is 2,869 TL and the 3-year repayment is 103,531 TL.

HOW MUCH IS THE REPAYMENT FOR A 100,000 TL LOAN?

The lowest interest rate for a 100,000 TL loan is offered by Getir Finans at 3.66%. Accordingly;

- The monthly installment for a 12-month maturity loan is 11,129 TL and the total repayment is 133,549 TL.

- The monthly installment for a 24-month maturity loan is 7,077 TL and the total repayment reaches 169,859 TL.