Facing soaring property prices, prospective homebuyers are diligently researching affordable and low-interest home loans. The question on everyone’s mind: How much is the repayment for a 1 million TL home loan, and which bank offers the cheapest mortgage rates? Here’s the comprehensive breakdown of February 2024 home loan interest rates from various banks.
The escalating costs in the real estate market have made it challenging for thousands of individuals aspiring to own a home. In light of these rising prices, the quest to find cost-effective home loans is in full swing.
Home loans play a crucial role in facilitating homeownership by allowing citizens to leverage their savings. These loans are granted based on individuals’ financial situations and credit histories.
Repayment Terms: How Much for a 1 Million TL Housing Loan? Which Bank Offers the Best Rates? Here’s the Table!
When selecting a loan, factors such as the loan term, repayment plan, and end-of-term payment must be carefully considered. The loan term should be determined accurately, taking into account interest rates and the borrower’s repayment capacity. Additionally, crafting a repayment plan that aligns with the individual’s income ratio is essential in the home loan process.
Home loans are offered by both public and private banks, each with its own set of interest rates. Below is a detailed breakdown of 1 million TL home loans from various banks in February 2024.
Bank by Bank Housing Loan Calculation – February 2024
- GARANTİ BBVA
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 2.90%
- Monthly Installment: 29,970.16 TL
- Total Payment: 3,596,420.73 TL
- AKBANK
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 2.80%
- Monthly Installment: 29,057.01 TL
- Total Payment: 3,491,840.61 TL
- ZİRAAT BANKASI
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 3.89%
- Monthly Installment: 39,303.25 TL
- Total Payment: 4,728,764 TL
- QNB FİNANSBANK
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 2.95%
- Monthly Installment: 30,429.24 TL
- Total Payment: 3,651,511.64 TL
- VAKIFBANK
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 3.79%
- Monthly Installment: 38,341.58 TL
- Total Payment: 4,600,987.28 TL
- ING
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 2.99%
- Monthly Installment: 30,797.66 TL
- Total Payment: 3,695,715.96 TL
- HALKBANK
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 3.79%
- Monthly Installment: 38,341.58 TL
- Total Payment: 4,600,989.60 TL
- YAPI KREDİ
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 3.20%
- Monthly Installment: 32,747.51 TL
- Total Payment: 3,943,892 TL
- HSBC
- Loan Amount: 1,000,000 Turkish Liras
- Interest Rate: 5.49%
- Monthly Installment: 54,990.14 TL
- Total Payment: 6,611,776 TL
As prospective homebuyers navigate through the myriad of home loan options, understanding the repayment terms and interest rates provided by various banks is crucial in making an informed decision on their journey to homeownership.
source: emlakkulisi.com / prepared by Melisa Beğiç