Personal Finance Loan​

Don't wait any longer for your dreams!

You can use a Personal Finance Loan with advantageous interest rates by providing a real estate mortgage, either yours or a close relative's, for your high-value cash financing needs.

General Information

How to use?

The collateral property you provide can be residential, commercial, or a developed land plot. You can borrow up to 80% of the expert appraisal value of your residential property.

If a mortgage is to be taken on a commercial property or developed land, you can borrow up to 50% of the property's value. When using your residential property as collateral, your loan will be subject to the Housing Finance Law, providing exemption from Banking and Insurance Transactions Tax.

If a residential mortgage is taken, Home Insurance and Mandatory Earthquake Insurance will be arranged.

How to apply for a loan?

Required documents for application:

  • Identity Document (Identity Card with Turkish ID Number, driver's license or passport)
  • One natural gas, electricity, telephone or water bill for the last 3 months in the name of the applicant
  • Income Certificate
    • Sole Proprietorship, company partner, Self-Employed or Trade Person:
      Tax Certificate for the last 3 years, balance sheet and income statement / business account summary
      Trade Registry Gazette / Chamber registration certificate
    • Salaried Employees:
      Payroll slip or salary letter and company signature circular and SGK service breakdown
    • Pensioners:
      Pension passbook or letter containing information about the bank account where the pension is
    • Real Estate Income Declarants:
      Title deed, relevant lease contract and document showing the rent collection
    • Securities Income Earners:
      Passbooks or passbooks showing interest income
  • In addition, a copy of the title deed of the real estate to be mortgaged is required.

You can visit Odeabank branches for detailed information and to apply.

Sample Loan Calculation

Loan Amount Maturity Interest Rate Monthly Installment Amount Loan Allocation Fee RUSF Rate BITT Tax Rate Monthly Cost Rate Annual Effective Cost Rate
50.000 TL 24 Months 6,99% 4.764,15 TL 250 TL 15% 0% 8,0988% 154,5959%

*Calculated for a loan of 50,000 TL with a maturity of 24 months. In cases where a real person gives his own residence as collateral, he is exempt from BITT Tax. BSMV is not included in the sample calculation. RUSF is included. Loan Allocation Fee of five per thousand, mortgage establishment fee of 826 TL and appraisal fee of 4,750 TL are included in the calculation of the effective annual cost rate. Credit life insurance, Mandatory Earthquake Insurance premium and home insurance premium are not included.