As with the rest of the world, the pandemic has weakened the economy in Turkey, reducing household budgets. To support citizens, state-owned banks have introduced low-interest loan programs with favorable terms and manageable installment plans.
Vakıfbank Loan Campaign
Halkbank, Ziraat Bank and Vakıfbank launched loan campaigns to support normalization measures and ease household finances. These banks announced loans with up to 60 months of term and an option to defer payments for the first 3 months.
Vakıfbank offers loans up to 50,000 TL with terms up to 60 months and interest rates starting at 0.86%. Repayments begin three months after loan approval, and monthly installments are divided into equal amounts. The offer is available only to Vakıfbank customers who hold a Vakıfbank deposit account, salary account or bank card. Applications are accepted via SMS.
Customers who want the 50,000 TL loan with a 3-month deferral should send an SMS in the following format: type the word KREDİ, then a space, then your Turkish ID number, another space, then your income information, and send the message to 5724. After sending the SMS, applicants receive an informational message the same day at the phone number used to apply. Once the customer approves via the informational message, the loan amount is transferred directly into the customer’s Vakıfbank account.
Halkbank Loan Campaign
Halkbank announced a second promotional loan campaign aimed at its customers whose household income is below 5,000 TL. Starting in January, the campaign offers a loan with a 36-month term and a six-month payment deferral.
Customers can apply for a 10,000 TL loan with a 0.49% interest rate and a six-month payment deferral. Halkbank customers wishing to apply are asked to visit their nearest Halkbank branch with their payroll slip, national ID card and a utility bill (water, electricity, or natural gas) registered in their name.
At the branch, applicants submit their documents to the loan department representative, who will provide a “6-month deferred consumer loan application form” to be completed with identity and contact information. When approval is granted the same day, the loan amount is transferred to the customer’s salary account.
Ziraat Bank Loan Campaign
Ziraat Bank offers an advantageous “Individual Basic Needs Support Loan” to its customers. Customers with a Ziraat Bank salary account, deposit account or bank card can apply for a 10,000 TL consumer loan with up to 36 months of repayment and a three-month deferral period. Applications are accepted at branches.
Customers wishing to apply should visit their nearest Ziraat Bank branch and meet with loan department officers. Required documents include a payroll slip, national ID card and a utility bill in the applicant’s name. After submitting documents, applicants complete and sign the loan application form. Once approved, the loan is transferred to the customer’s bank account.
Conditions
To benefit from these favorable loans and deferred payment options, applicants must have verifiable income, be Turkish citizens and be at least 18 years old. Applicants must not have outstanding loans or credit card debts under legal or bank collection. Each bank’s campaign is available only to its customers, and applications for these campaigns run from January 24 to January 31.