With applications for the interest-free 800,000 TL earthquake relief loan, rebuilding homes damaged or destroyed by the quake becomes possible. Survivors can also benefit from these loans for ruined workplaces and shops. Banks are offering loans aimed at quake victims. The interest-free 800,000 TL earthquake relief loan application will help ease post-earthquake recovery.
The Ministry of Environment, Urbanization and Climate Change will also provide loans to affected people. In addition to loans, grants will be provided. The stated purpose of these loans and grants is to rebuild structures destroyed in the earthquake-affected region.
Minister Mehmet Özhaseki announced details of the program. The loan will be issued with a 10-year maturity and a two-year grace period. Loans and grants will be available to residents of the 11 provinces affected by the February 6 earthquake. Applications will begin on July 15.
Loan amounts differ for workplaces and residences. The maximum amount available is 800,000 TL. Those wishing to benefit from the loans and grants must apply at one of the transformation offices. Transformation offices will be set up at several locations in each city.
What Is an Earthquake Loan?
An earthquake loan is financial support provided to earthquake victims to rebuild homes and businesses. Grant amounts are set at 500,000 TL for residences and 250,000 TL for workplaces.
Loan amounts for residences will range from 500,000 to 800,000 TL. For workplaces, loans will range from 250,000 to 500,000 TL. Grants and loan disbursements will be paid to contractors rather than directly to homeowners and will be released based on progress payments.
For workplace construction, a 250,000 TL grant will be provided. For a gross construction area of 50 square meters, a 250,000 TL loan will also be available. For 51–100 square meters, 400,000 TL will be provided. Workplaces larger than 101 square meters will be eligible for 500,000 TL.
The loans will be interest-free and include a two-year repayment deferment. Repayments will be spread over a 10-year term.
What Are the Conditions for the 500,000 TL Grant?
Conditions for the 500,000 TL grant include that the residence or workplace must have been destroyed or damaged by the earthquake. Loans intended for residences may also be used for commercial properties owned by legal entities. Applicants must apply at one of the 22 transformation offices to be established.
Applications for the 500,000 TL grant will start on July 15. People who own multiple apartments may qualify if those units are occupied by married children; in such cases, they can still benefit from the program.
Owners of apartment buildings will receive payments for each apartment. Grants will be given per apartment, while loans will be limited to three apartments per owner. Minister Özhaseki emphasized that the ministry will consult experts and monitor every stage of the process closely.
Will Earthquake Victims Receive Interest-Free Loans?
The Ministry has confirmed that earthquake victims will receive interest-free loans. Both grants and loans will be provided to affected citizens. Özhaseki stated that if problems arise, TOKİ (the Housing Development Administration) will step in.
TOKİ will take over unfinished construction if contractors are unable to complete works, ensuring incomplete projects are finalized. Özhaseki added that every stage will be closely monitored and that residents will remain in the area until safe housing is ready.
Those who wish to benefit from the interest-free loans must apply at transformation offices. Applicants will be eligible for both loans and grants.
What Is the Deadline to Apply?
The deadline to apply for the earthquake loan is August 31, 2023. Applications must be submitted by this date. The interest-free 800,000 TL earthquake relief loan application will accelerate reconstruction. Applicants should ensure they apply on time.
Both homeowners and business owners can access these loans. Damaged or destroyed structures will be rebuilt more quickly with this support. Residents of the 11 provinces affected by the Kahramanmaraş-centered earthquake are eligible.
The affected provinces include Kahramanmaraş, Hatay, Malatya, Gaziantep, Adana, Adıyaman, Şanlıurfa, Diyarbakır, Kilis, Elazığ and Osmaniye.
Which Bank Offers Loans at 0.99%?
Public banks are among the lenders offering loans at 0.99%. In addition to the 500,000–800,000 TL loan amounts, it is possible to obtain additional credit from banks. Some banks offer special loan products for earthquake victims. Those who want to apply to banks can do so through the banks’ online portals.
- To apply with Ziraat Bank, visit the bank’s online portal and choose the Internet Branch option.
- After selecting Internet Branch, individuals should select the “Personal” section while businesses should select “Corporate.”
- On the following screen, enter your national ID number first.
- After the ID number, enter your online banking password.
- You can log in to Ziraat Bank’s internet branch with your password.
- Then click the “Continue” button to proceed.
From the menu on the screen, choose the “Loans” option to view available credit products.
Then click on “Digital Loan” to see different loan options offered by banks. For the earthquake victim loan application, applicants must wait for the establishment of 22 transformation offices.
Is There an Interest-Free Loan for Earthquake Victims?
The interest-free loan program for earthquake victims will be provided by the Ministry of Environment, Urbanization and Climate Change. Applications begin on July 15 and close on August 31.
Which banks will distribute the interest-free loans and grants has not been announced. Those needing additional credit can apply to banks for standard loans through online banking or mobile banking channels.
Banks regularly run general loan campaigns. For example, to learn more about Halkbank’s loan options, applicants can visit the bank’s online services.
From the internet branch, select “Personal” for individual applications or “Corporate” for business applications.
Enter the required information in the Internet Branch Login area—national ID and password—and then click “Login” to proceed.
Which Bank Will Provide the Earthquake Relief Loan?
It has not yet been specified which bank will provide the earthquake relief loan. Minister Özhaseki said that applications will be taken at transformation offices to be set up at 22 locations.
There is no official statement on whether online applications will be possible. If online applications are enabled, they will likely be handled through e-Government. Applicants will otherwise submit their applications at transformation offices.
If applications are accepted via e-Government, users will need to log in to the national portal using their ID number and e-Government password. Those who do not have an e-Government password can obtain one from PTT branches.
How to Apply for Grant Support?
Applications for grant support will be accepted at transformation offices. Officials at these offices will review applications and determine who qualifies for loan and grant support. Both workplaces and residences are eligible for support.
With the support provided for homes and workplaces, destroyed or damaged buildings will be rebuilt. Loan amounts can reach up to 800,000 TL. Repayments are spread over ten years with a two-year grace period.
Applicants must have lost their home or workplace due to the earthquake to qualify. Loans are available for structures that have been destroyed, are at risk of collapse, or are otherwise uninhabitable. Applications will continue until August 31, with submissions starting on July 15.
The interest-free 800,000 TL earthquake relief loan application will support rapid recovery in the affected region.