In 2021 many banks began offering low-interest loans specifically to customers who want to buy a mobile phone. After the Banking Regulation and Supervision Agency removed installment phone sales from many retailers, consumers increasingly turned to banks for installment phone financing.
For this reason several banks started providing dedicated phone loan products. Through agreements with companies that sell electronics, banks once again give customers the option to purchase phones in installments.
Banks where you can apply for a phone loan include:
- ING Bank
- DenizBank
- QNB Finansbank
- VakıfBank
- Akbank
- İş Bankası
- Fibabanka
- Aktifbank
You can apply to the banks listed above to request a loan for purchasing a phone.
ING Bank – TeknoKredi Supported Phone Loan
ING Bank has a partnership with Teknosa, so ING’s phone loan supported by TeknoKredi can be used at Teknosa stores. There is no commission charged during the application process. Using the TeknoKredi support is one option to obtain an ING phone loan.
The support package sets a minimum amount of 500 TL and a maximum of 20,000 TL. You can apply for TeknoKredi by sending an SMS with TEKNOSA followed by your Turkish ID number separated by a space to 2229, or by contacting ING customer service at 0850 222 0 600.
TeknoKredi offers terms up to 36 months. ING also offers an alternative product called Smart Credit (Akıllı Kredi) which can be used to finance a smartphone purchase.
ING phone loan conditions;
- The maximum price of the phone eligible for the product is 3,000 TL.
- Loan terms range from 12 to 36 months.
- The credit allocation fee is 0.5% of the loan amount.
If you accept the above conditions, you can apply easily.
| Kredi Tutarı | Kredi Vadesi (Ay) | Aylık Faiz Oranı | Aylık Toplam Maliyet Oranı | Aylık Taksit Tutarı | Kredi Tahsis Ücreti | Geri Ödeme Tutarı | Yıllık Toplam Maliyet Oranı |
| 5.000 TL | 3 | %0,00 | %0,00 | 1.667 TL | 0 TL | 5.000 TL | %0,0000 |
| 4.000 TL | 6 | %0,00 | %0,00 | 667 TL | 0 TL | 4.000 TL | %0,0000 |
| 2.000 TL | 10 | %0,00 | %0,00 | 200 TL | 0 TL | 2.000 TL | %0,0000 |
| 3.000 TL | 12 | %0,00 | %0,00 | 250 TL | 0 TL | 3.000 TL | %0,0000 |
DenizBank – 12-Month Installment Phone Loan
DenizBank’s phone loan is available through its partnership with MediaMarkt, so it is designed for purchases at MediaMarkt stores. To use this loan you can apply in-store, by SMS or via the bank’s website. To apply by SMS, send KREDIM followed by a space and your Turkish ID number to 3280. If your loan is approved the funds are transferred directly to the MediaMarkt store, allowing you to complete the phone purchase easily. For phones priced at 3,500 TL or less, a 12-month term typically applies; for phones priced at 3,500 TL or more, a 3-month term may apply.
QNB Finansbank – Turkcell Partnership Phone Loan
QNB Finansbank phone loan requires you to purchase the phone from Turkcell Communication Centers. This option is available only for phones bought with cash at the time of purchase; phones added to a mobile bill are not eligible for the loan. To apply, visit your nearest Turkcell store with the required document, which is the applicant’s e-Government profile. That profile lets the bank review creditworthiness and legal records to evaluate the application.
VakıfBank – Gold Bilgisayar Partnership
To use VakıfBank’s phone loan you must buy from participating Gold Bilgisayar stores. Not all branches participate; only specific Gold Bilgisayar locations are covered by the agreement. You can apply at a VakıfBank branch or via Internet banking.
Akbank – Express Loan
Akbank also offers a suitable option with its Express Loan product. To qualify you must be at least 18 years old and pass the bank’s credit assessment. If you meet these conditions you can benefit from Akbank phone loan products. Generally no payroll document or guarantor is required; a copy of your identity card is usually sufficient. In some cases proof of residence may be requested and the bank will inform you if that applies. One important condition for the 36-month term is that monthly installments should not exceed half of the household’s monthly income.
İş Bankası – Low-Interest Phone Loan
You can apply for İş Bankası phone loan at your nearest İş Bankası branch or by notifying the bank via a short written request to 4402. Applications are also possible at ATMs, through the website, or by contacting customer service.
Documents typically required for the loan application:
- Completed application form
- Proof of income
- Copy of identity card
Fibabanka – Installment Phone Loan Conditions
You can use Fibabanka phone loan for purchases at Vatan Bilgisayar. To apply you may send an SMS, call 444 88 88, or select Fibabanka Credit at checkout on vatanbilgisayar.com.
Ways to pay your loan installments:
- Mobile or Internet banking
- Call center
- Any Fibabanka branch
- Payment points inside Vatan Bilgisayar stores
These channels make payments quick and convenient. You may also transfer funds to your loan account at the bank or pay at payment points inside Vatan Bilgisayar stores.
To apply by SMS, send VATAN followed by a space and your Turkish ID number to 3422. If your application is approved, go to the nearest Vatan Bilgisayar store to complete your purchase. For online purchases, if you are already a Fibabanka customer select the Fibabanka Credit option at checkout; you will be redirected to the bank’s loan application page and your application will be processed directly. If you are not a Fibabanka customer, selecting the same option will redirect you to the credit application page where you must complete the form; the bank will evaluate your application automatically.
Once approved, loan offers suitable for your selected phone will be presented and, if needed, documents to become a Fibabanka customer will be sent by courier. You will receive the loan contract by SMS; approving the contract via the provided link completes the process and the loan amount is transferred to the Vatan Bilgisayar account so your order can be delivered.
Aktifbank – N Kolay Loan
Aktifbank’s phone loan is available through the N Kolay product. The minimum loan amount is 500 TL and the maximum is 30,000 TL. Terms up to 36 months are offered, and in some promotions the loan can be repaid without additional term difference.
To apply for N Kolay send TAKSİT followed by a space and your Turkish ID number to 3050. If accepted, use the SMS-provided application number and your identity card at partner retailers to complete the purchase.
Ways to pay your phone loan installments:
- At any PTT branch using your Turkish ID and application or customer number for a small fee (around 4 TL).
- From PTT ATMs using your Turkish ID and Aktifbank IBAN without a fee.
- By making an EFT from any bank account to your Aktifbank IBAN.
- From VakıfBank ATMs or Akbank ATMs using your Turkish ID and Aktifbank IBAN (fees and limits apply as specified by the ATM operator).
- At participating UPT payment points with your identity card free of charge.
This article outlines the banks that offer installment options for purchasing a phone. The institutions listed above provide various phone loan alternatives to help you purchase the device you want on affordable payment terms.
| Kredi Tutarı | Vade (Ay) | Faiz Oranı* | Taksit Tutarı | Kredi Tahsis Ücreti | Yıllık Toplam Maliyet |
|---|---|---|---|---|---|
| 10.000 TL | 12 | 2.09% | 975.34 TL | 52.50 TL | 35.99% |
| 10.000 TL | 24 | 2.09% | 559.62 TL | 52.50 TL | 35.37% |
| 10.000 TL | 36 | 2.09% | 425.04 TL | 52.50 TL | 35.15% |