The Most Favorable Interest Loan

Within the scope of favorable interest loan , banks sign some campaigns. Campaigns can be periodic or long-term in line with bank policies. Most banks do not require guarantors or guarantees within the scope of banks’ most favorable low-interest loan facilities.

Characteristics of Loans with the Most Favorable Interest

Characteristics of Loans with the Most Favorable Interest

The loans with the lowest interest reflect the working policy of the banks. In this context, some banks’ loan interest rates vary depending on the maturity amount, and some vary according to the loan amount received. When banks start making announcements about low interest loans, they do this by calculating the lowest loan amount with the longest term.

For example, if the bank calculates a loan amounting to USD 1,000 for 60 months, it calculates monthly interest rate of 1.60 and makes the announcement of the loan through this calculation. However, loans have an increasing interest rate as the maturity amount decreases. You also have the chance to receive a loan amounting to USD 1,000 with a interest rate of 2.04% in 3 months. For this reason, the calculations of low interest loans should be very well made, and a comparison should be made among the banks to decide which loan is desired to be taken.

The loans with the lowest interest are given within the scope of consumer loans from 1.000 USD to 50.000 USD. These loans allow maturities from 1/3 to 60 months. When it is agreed on the interest rates of the loans, if the loan is not paid, the agreed interest amount is canceled and a new structuring process is started. You may need to pay at a much higher rate than the interest rate you agreed under this configuration. Besides, surety and guarantee are rarely required for these loans. In the loan application, your credit rating and previous bank debts are considered.

Documents Required for the Application to the Lowest Interest Consumer Loan

Documents Required for the Application to the Lowest Interest Consumer Loan

The documents required for the consumer loan application can be listed as follows:

  • For private sector employees;
    • Payroll
    • SGK breakdown
    • Certificate of residence
    • Signature circular of the workplace
    • In case of additional income, income certificate
  • For public employees;
    • Payroll
    • Certificate of residence
    • In case of additional income, income certificate
  • For retirees;
    • Retirement monthly breakdown
    • Certificate of residence
    • Additional income document
  • For business owners;
    • Current tax plate
    • Signature Circulars
    • Room registration document
    • Balance sheet and income statement
    • Additional income document

In case these documents exist, application loans can be applied.

Application Ways for the Lowest Interest Loans

Application Ways for the Lowest Interest Loans

The fields of application for the loans with the lowest interest can be listed as follows:

  • Banks branches
  • Credit comparison sites
  • From banks’ online banking and internet branches
  • From bank call centers
  • From the bank customer representatives with a text message
  • From the customer representatives via call
  • Applications are received from bank ATMs.

The interest rates of  banks are like this. In this context, you can find the bank that suits you the most in line with your needs by making comparisons on the lowest interest loan . You can use the loan calculator on our site to calculate loans from more banks.

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