Central Bank decreased Interest rates

Central bank of turkey

Central Bank decreased Interest rates

Central Bank of Republic of Turkey (CBRT) did a reduction in the policy rate by applying a discount more than 325 points. the rates have declined to 16,5%.The Central Bank’s interest rate decision was in line with the expectations.

The interest rate cut was welcomed by the markets and experts.

During the period when the European Central Bank (ECB) and the American Central Bank (FED) made interest rate cuts, the easing in interest rates did not pose any risk. Following the cut, the dollar rate fell by 1.5% to 5.66, while the Euro fell to 6.22, driven by the ECB’s policy rate cut.

 

Following the CBRT’s rate cut in July, the average interest rate on property loans decreased by 28 points. After the interest rate cut, the first reaction came from public banks led by Ziraat Bank. While the interest rate of house loans decreased to less than 1% in public banks, houses loan rates gradually decreased to 1.2% in private banks.

 

The Central Bank’s policy rate cut for the second consecutive year has significantly reduced the credit costs of banks. Banks with reduced credit risk and costs continue to facilitate loan interest rates and loan disbursements. The reduction also reflected in a positive impact on houses loan interest rates.

 

The current house loan interest rates of the banks are as follows;

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Ziraat Bank house Loan

Ziraat Bank offers an interest rate of 0.99% for a 15-year maturity.

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HalkBank house Loan

HalkBank offers an interest rate of TL 500,000 under the mortgage for the house loan with a campaign interest of 0.99% for a maturity of up to 15 years and 1.39% for a 15-year maturity.

Vakif Bank
Vakif Bank

VakıfBank house Loan

VakıfBank offers a house loan with a campaign limit of TL 500,000 and an interest rate of 0.99% up to a term of 15 years, while providing loans with a 1.49% interest rate.

Tep Bank
Tep Bank

TEB house Loan

TEB reduced interest rates to 1.2% for all maturities up to 10 years. Bank mortgage interest rates are still at 2.58%.

Iş Bank
Iş Bank

İş Bank house Loan

In İş bank offers an interest rate of 1.29.. The bank’s house loan interest rates are at 1.75%.

Kuveyt Türk
Kuveyt Türk Bank

Kuveyt Türk house Loan

The Kuveyt Türk Participation started to provide housing finance with a profit share rate of 1.27% in all maturities up to 10 years.

Yapı Kredi Bank
Yapı Kredi Bank

Yapı Kredi Bank house Loan

Following the interest rate cut, Yapı Kredi Bank offers an interest rate of 1.29% in all maturities up to 10 years.

ING Bank
ING Bank

İNG house Loan

After the interest rate cut, İNG provides a loan with an interest rate of 1.39% for the insured loan product with a maturity of 2 years and 1.29% between 3 and 10 years.

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ICBC house Loan

ICBC Bank offers an interest rate of 1.37% for house loans and 2.4% for signage rates.

AK Bank
AK Bank

Akbank house Loan

Akbank started to extend loans with an interest rate of 1.39% until maturity.

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Garanti house Loan

Garanti offers an interest rate of 1.45% up to 1 year maturity, 1.37% up to 2 years maturity and 1.36% between 3 and 10 years.

QNB Finans Bank
QNB Finans Bank

QNB Finansbank house Loan

Following the interest rate cut, QNB Finansbank extends loans with an interest rate of 1.36% up to 10 years.

Turkey Finance Bank
Turkey Finance Bank

Turkey Finance house Finance

the Turkey Finans Participation is 10% rate.

Şekerbank
Şekerbank

Şekerbank house Loan

Following the discount, Şekerbank started to implement 1.59% up to 2 years maturity, 1.74% up to 5 years maturity and 1.89% up to 10 years maturity.

anadolu bankası logo

Anadolubank house Loan

Anadolubank offers a housing loan interest rate of 1.85% up to 5 years and 1.94% up to 10 years.

HSBC Bank
HSBC Bank

HSBC house Loan

The HSBC Bank provides housing loans with an interest rate of 1.99% up to 10 years.

DenizBank house Loan

DenizBank offers a loan with an interest rate of 2.05%. The Bank offers a 2.75% interest rate under the mortgage.

 

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