Public banks have provided reasonable rates of interest rates for housing loans in Turkey for those wishing to buy new apartments.
The Treasury and Finance Minister, Baraat Alberg, revealed a 0.79% reduction in interest rates for bank loans last week, turning public attention to anticipation of what state banks would issue in order to do so.
Officials at The Transplant Bank announced today that the interest rate will be reduced by 0.79% for new home loans, which amount to 500,000 liras, with the possibility of repayment within 60 or 120 months.
The interest rate, according to the translation of Turkey Now, depends on the value of the loan provided by banks to buy new apartments, so the interest rate of bank employees is estimated by the value of the loan.
Here are examples of the monthly premium by amount:
Loan: 75,000 Lira (duration: 60 months/ monthly installment: 1574 Lira) or (duration: 120 months/ installment: 969 Lira).
Loan: 80,000 (duration: 60 months/ monthly installment: 1679) or (120 months/ installment: 1034 Lira).
Loan: 85,000 Lira (duration: 60 months/ monthly installment: 1784 Lira) or (120 months/ installment: 1098 Lira).
Loan: 250,000 Lira (duration: 60 months / monthly installment: 5248 Lira) or (120 months/ premium 3232 Lira).
Source: Turkey Now