May 25, 2024

If you are wondering how many times my salary can get a loan , we can say that there are some calculation techniques for this. If you have taken a loan before and you continue to pay, you should not forget that these loans are also important in the new loan application. Both your salary and other monthly income, as well as the credit and card debts that you continue to pay; very important during credit evaluation. If a loan you continue to pay is exactly the same as your monthly income, the probability of taking a new loan can be considered as low. What you need to do for this is; If any, additional income should be reported to the bank. Otherwise, you should know that banks are not likely to give loans by showing initiative, since it is not possible to take out more loans than your income, according to the law.

This is valid for all banks, and if you have other loans, they are also subject to evaluation. In other words, if you have a loan debt that corresponds to 40% of your salary, the total amount should not exceed 70% with the new loan you will withdraw. This is calculated by monthly instalments.

Is Insurance Enough to Take a Loan?

It is a sought-after situation and a condition for a person who wants to take out a loan to be insured. But it is not enough either. Just because the person is insured does not mean that their loan will be approved. While many other criteria can be taken into account, a high credit rating is one of the conditions sought.

Since the loans you have taken out and paid before will cause your credit rating to decrease, such a situation should not occur. So if you have insurance, your monthly income is in good condition, but your payments are irregular, unfortunately the banks will not approve your applications.

Instead, if you wish, you can find a guarantor for the loan, thereby increasing the likelihood of the loan being approved. You can have more detailed information by reading our article on the subject , Can someone with credit debt be a guarantor?

How Much Consumer Loan Can I Take?

How many times my salary can be borrowed from banks may vary depending on the campaigns of the banks. While some banks give a maximum loan of 50.000 TL , you can easily see that this amount reaches up to 150.000 TL in some banks. Of course, this does not mean that you can take a loan directly and the application will be approved from the maximum amount.

You can easily apply for a loan with monthly installments up to 70% of your salary. If you need a more consistent loan, but the monthly installments are way above your salary, then you can stretch the maturity options if you wish. Today, banks can give loans up to 48 and even 60 months with their campaigns .

How Many Times of Retirement Salary Can Take a Loan?

Pensioners can also take out a loan to correspond to a certain part of their salary, just like our other citizens. You can find these amounts in the table below. Let’s say that a citizen has a salary of 2.000 TL. In this case, he can apply for a loan with a maximum monthly installment of 1,400 TL. If he/she wishes, he/she can apply for higher amount of loans on a long-term basis.

Salary Amount Monthly Installment Maximum Amount He Can Withdraw
1.000 TL 700 25.000 TL
2.000 TL 1400 50,000 TL

Frequently Asked Questions

How many times my income can I take out a loan?

In 2020, a person can take out a loan that corresponds to a maximum of 70% of his income. This calculation is made over the monthly installments of the loan.

How many times my salary can I take out a housing loan?

This situation is changing in housing loans. Since there are very high amount of loans, this situation is stretched and a loan can be drawn up to 12 to 15 times the salary.

How much loan can I get for how much salary?

To make a short calculation, a person with a salary of 1,000 TL can apply for a loan with a maximum monthly installment of 700 TL. This calculation is 70%.

How many banks can I borrow from at the same time?

All our citizens with a high credit rating, regular monthly and high income; If there is no problem in their payments, they can take loans from as many banks as they want. This is all about whether he can afford the loan or not.

How many times the salary can the credit card limit be?

In 2020, credit card limits are used as 2-3 times the monthly income, that is, the salary. This situation is not valid for a single bank, it is calculated by evaluating the cards in all banks.

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