May 25, 2024

Banks Giving Installment Deferred Loans

Today, in line with the increasing competition in the banking sector, banks organize many different loan campaigns in order to enlarge their consumer portfolios. One of them is the installment deferred loan campaigns. Currently, there are banks that offer 3-month and 6-month installment deferred loan products. Consumers also prefer banks that implement this campaign many times.

For consumers, such credit campaigns can be very attractive. With non-deferral loan facilities, they can use 3 or 6 months deferred loans. This type of loan campaign provides a great advantage for banks that want to expand their portfolio.

What should be considered when buying a 3 and 6 month deferred loan

Banks prepare a 3 month and 6 month deferred loan campaign for consumers, but of course, they also consider their own interests when providing loans under these conditions. With small calculation games, they can benefit from payment terms that are attractive to the consumer. In particular, there may be slight interest rate changes in installment deferred loan types compared to direct payment loan types. While taking advantage of such loan campaigns, Turkish consumers should make correct calculations with interest rate fluctuations.

If your credit rating is 1400 and above, you should definitely negotiate with the banks about these deferred loans, especially in the last period, which is of great importance. If your credit score is high, many banks will enter into rate negotiations to give you a loan. In this process, use your loan by making an agreement with the bank that gives you the most suitable loan.

Banks that give 3 months and 6 months deferred loans

Banks took a huge advantage after launching this type of loan campaign for consumers. Seeing this, other banks prepared such attractive campaigns and presented them to their consumers. Recently, this attractive campaign has been mentioned frequently, especially in ING Bank’s TV advertisements. First, ING Bank implemented a 3-month deferred loan campaign, and then TEB Bank, Akbank and Finansbank launched this loan campaign.

The installment deferred loan is given not only for consumer loans but also for vehicle loans. In environments where competition increases and unless banks have agreements such as cartel interest, all banks will be involved in this system and increase the number of postponements.

The longest maturity in deferred consumer loans is 48 months, and the maturity period starts after the first installment of the loan is paid.

For example, how to get a 3-month deferred loan?

You wanted to use a loan of 10.000 TL with a deferred installment, you can start to pay your loan, which you applied for and approved in May 2019, in August 2019.

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