Loan with Favorable Interest Rates

 

Eligible Interest Loan, of course, is the right of every citizen to search for suitable interest to take out a loan and want to use a loan with the most appropriate interest rates. How can you find out which bank gives you the most suitable interest loan?

If we want to take out a loan from the bank, you must first decide what kind of loan you want to take out.

What should we be careful about when buying credits with suitable interest?

What should we be careful about when buying credits with suitable interest?

 

If we need an urgent loan, we can apply to take out a consumer loan from the banks. There are different types of loans for our every need.

If we explain this with an example; If you want to have a wedding, you can take a wedding loan from the bank. If you want to go on a vacation, you can set the type of your loan as a vacation loan. Banks have a lot of loan types similar to these examples, and if we get a loan with the most appropriate interest, we can apply accordingly.

  • Education loan
  • Officer loan
  • Renovation loan
  • Loan types, such as mortgage loans, are the types of loans given by banks under the name consumer loans.

Let’s list some of the things to be considered while taking credit

One of the Most Important Issues When Taking a Loan is the Maturity of the Loan.

One of the Most Important Issues When Taking a Loan is the Maturity of the Loan.

When taking a loan, the type of loan we take is very important. For example; Withdrawing a retirement loan when you withdraw means you can use a loan with much more favorable interest. Banks offer you specific maturity rates based on your credit needs. However, it should not be forgotten that there are no banks that lend more than 60 months. It is never possible through legal means.

Your Right to Investigate a Bank that Gives Appropriate Interest While Taking a Loan!

Your Right to Investigate a Bank that Gives Appropriate Interest While Taking a Loan!

When you decide to take a loan, of course, you will want to choose the bank that offers you the best interest and maturity ratio. For this, you can visit the bank by bank or learn the most suitable term for you from our customer representatives with a single application.

It should not be forgotten that public banks generally give the most favorable interest rates. If you cannot apply for a loan from the bank from which you are paid, you can apply for a loan to public banks.

Things to Know for Restructuring Housing Loans

With the new interest decreases, there has been a great increase in applications made to banks for restructuring or credit transfer (refinancing). Especially in the past few years, people who have received high rates of credit compared to the present day have been on the way of banks for restructuring.

Refinancing has always been a system in favor of borrowers. The consumer, who is not affected when the interest rates increase in fixed interest loans, can benefit from the decreasing rates with the restructuring opportunities when the interest rates decrease. However, in order to get maximum benefit from refinancing, it is necessary to be aware of some tricks.

Make more profit by lowering your maturity, not monthly installment

Make more profit by lowering your maturity, not monthly installment

The longer the maturity of the loan, the higher the interest paid to the bank over the principal. When the maturity is shortened, monthly installments will increase. Therefore, it is necessary to keep a balance in loan monthly installments. The monthly installment amount should be low enough for you to pay, but high enough not to cause you any extra damage. Refinancing gives the person a chance to restore this balance. How Does?

Interest is paid to the bank as long as the principal of the purchased loan remains as a debt. When maturities extend, the interest paid also increases, and the cost of the loan increases. Therefore, while restructuring a loan, if the monthly installment amounts are not decreased and the total number of installments decreases, the total cost of the loan decreases more.

Is it a restructuring at my own bank or a credit transfer to another bank?

Is it a restructuring at my own bank or a credit transfer to another bank?

You can apply to your own bank to restructure your loan or transfer to another bank. However, when transferring the loan to another bank, a 2% early closing penalty is paid over the principal remaining to the previous bank. Combined with new file costs, expertise and mortgage fees, switching to a new bank will bring you a significant down payment. Your current bank usually gives higher interest rates than other banks. Sometimes there will be differences of up to 0.15% between your old bank and the rates offered by new banks.

In these cases, all additional costs (2% early payment penalty, new file cost, new mortgage fee, etc.) in the transition to the new bank should be added to the interest to be paid to the bank according to the bank’s offer and should be compared to the cost of the refinancing offer of the existing bank. In such cases, it is often a more economical option to switch to a new bank.

Reduce your cost further by using custom payment plans

Reduce your cost further by using custom payment plans

Another advantage of refinancing is that you will be able to redefine your payment plan as your old loan will be closed and a new loan will be opened. Let’s say you used your loan in fixed installments. However, you changed your job in the meantime and now you receive bulk money at certain times of the year. In this case, while refinancing, you can add interim payments to your new loan and further reduce your total cost. If you want to make interim payments in the future, you will not pay an early payment penalty.

You can also take advantage of increasing or decreasing payment plans with the new payment plan. Let’s say your children are growing and your expenses will increase. After 3 years, you will not be able to repay the loans as much as they used to. In this case, you will not close your credit and get stuck with the installments that are decreasing with the decreasing payment plan. Or, for example, you expect to be promoted after 3 years and earn more money than now. This time, you can use the increasing payment plan to reflect your income increase to your credit installment.

You have learned the tricks about loan structuring. Now it’s time to do your housing loan calculation and find the best refinancing offers. Now you can easily do this online. You can immediately go to page and calculate your profit and loss situation in refinement, reach the best bank offers and apply for refinement instantly.