Attention those looking to buy a home... Banks offering low-interest housing loans have been announced

The best way to cope with rising rent prices may be to obtain a housing loan with low interest rates. Here are the banks offering housing loans with the lowest interest rates.

Türkiye İş Bankası: With a 3.05% interest rate, monthly installments for a 60-month term are 73,042 TL, with a total repayment of 4,405,069 TL; for a 120-month term, monthly installments are 62,704 TL, with a total repayment of 7,547,072 TL.

Kuveyt Türk: With a 3.09% interest rate, monthly installments for a 60-month term are 73,665 TL, with a total repayment of 4,442,462 TL; for a 120-month term, monthly installments are 63,446 TL, with a total repayment of 7,636,075 TL.

TEB: With a 3.19% interest rate, monthly installments for a 60-month term are 75,233 TL, with a total repayment of 4,535,442 TL; for a 120-month term, monthly installments are 75,916 TL, with a total repayment of 9,131,363 TL.

Garanti BBVA: With a 3.20% interest rate, monthly installments for a 60-month term are 75,390 TL, with a total repayment of 4,545,975 TL; for a 120-month term, monthly installments are 65,495 TL, with a total repayment of 7,881,961 TL.

On the other hand, the Social Security Institution (SGK) has announced that it will provide a 400 thousand TL housing loan with zero percent interest specifically to those receiving a salary, in accordance with various legal regulations.

BENEFICIARIES

According to Article 56 and the repealed Articles 45 and 64 of the Turkish Republic Pension Fund Law No. 5434,

According to Article 47 of the Social Insurance and General Health Insurance Law No. 5510,

According to the Law No. 2330 on Cash Indemnity and Pension Allocation,

Those who are granted a pension due to being disabled in the line of duty or war according to the laws requiring pension allocation by applying the provisions of Law No. 2330

Widows and orphans of those who lost their lives for reasons covered by the aforementioned laws,

Widows and orphans of those who lost their lives while receiving a war or duty disability pension without having utilized the right to an interest-free loan,

Public officials who are considered war or duty disabled within the scope of the aforementioned circumstances but continue to work by changing their class or duty,

Those who were receiving a pension according to the relevant legislation but whose pensions were suspended due to starting work under Article 4 of Law No. 5510,

July 15 veterans who are within the scope of Decree-Law No. 684,

Have the right to benefit from the Interest-Free Housing Loan.

APPLICATIONS AT THE BANK

Beneficiaries who wish to apply for a loan will only need to apply directly to branches of T.C. Ziraat Bankası or T.C. Halk Bankası, without the need for previously issued entitlement documents.

REPAYMENT TERMS

The repayment of the loan by the beneficiary is carried out by the Social Security Institution through deductions at a rate of 1/4 of the monthly pension the beneficiary receives, including all types of compensation.

For the repayment of joint credit opened for children who have not been granted a monthly pension or whose pension has been terminated, 125% of one-fourth of the monthly pension received by children who have been granted a pension as of the date repayment begins is accepted as the monthly installment, and it is deposited into the bank by the eligible child until the debt is paid off.

In cases where disabled individuals continue to work in the public institution where they are employed and also receive their pensions from these institutions, 125% of one-fourth of their last monthly pension prior to the month the credit is utilized is accepted as the monthly installment and is deposited into the bank by the eligible beneficiary until the debt is paid off.