With the new regulations, the maximum maturity amount was limited to 36 months while using general purpose loans. When users who want to use high amounts of credit want to use longer terms, things get confused.
On the other hand, the amount of credit that you can use in consumer loans varies from bank to bank, and may even vary according to your salary. In this case, a mortgage-guaranteed consumer loan gives you the advantage of using both a high amount and a long-term loan. So, what are the advantages of a personal finance loan, also known as a mortgage loan?
In this loan, which will be used as a collateral for a mortgage, the bank will feel less risk thanks to the guarantee provided by the collateral in addition to the customer’s payment capacity. Since the customer has more binding bonds to the bank than a normal consumer loan, the bank decreases interest rates so as not to miss the customer. For example, in a 5-year loan amounting to USD 30.000, interest income up to USD 1,500 can be obtained.
On the other hand, since there is no collateral in the standard loan, the payment capacity of the customer is examined. Negative points in the solvency have risks for the bank. Therefore, the loan offer is disadvantageous compared to the mortgage loan.
You can find out your interest amount for your overdue payments instantly through our anında Consumer Loan Overdue Interest Calculator ”tool.
With the new regulation, the maximum maturity in consumer loans was fixed with 36 months. In this case, the use of high amounts of credit has become difficult. Consumers who do not want to pay high monthly installments apply for loans with lower amounts. On the other hand, most banks already limit the amount of credit you can get to 20,000 – 30,000 US. The reason for this is the high risk factor in this unsecured loan.
However, the situation is slightly different in Personal Finance Loan. Since the mortgage is a collateral, the bank is able to extend a higher amount of credit to the customer. For example, if your house is worth 200,000 USD, you can withdraw up to 100,000 USD.
Calculate how much credit you can withdraw instantly with our “How Much Credit Can I Calculate” table tool.
When using a standard consumer loan, you have to pay 15% KKDF (Resource Utilization Support Fund) and 5% BSMV (Banking and Insurance Transactions Tax) deductions from the total interest amount. However, it is possible to take advantage of the tax deduction in the Personal Finance Loan since your house which you will show as collateral is mortgaged. If your mortgage is your home loan, you will be exempt from BSMV. This means that you will receive a tax exemption of $ 30,000 and up to $ 1,000 on a 5-year loan.