What is the cost difference between mortgage and vehicle loans?

When the housing BSMV exemption applies, only interest is charged, while vehicle and consumer loans add KKDF+BSMV (15%+15%) on interest. At the same monthly rate, an exempt housing loan produces a lower installment. If exemption conditions are not met, housing loans also attract 15% BSMV; confirm with your bank and current GİB practice.

How is the monthly installment calculated?

Monthly installments are calculated using the equal-installment (annuity) method. Formula: Installment = Loan Amount × [Monthly Rate × (1 + Monthly Rate)^Term] ÷ [(1 + Monthly Rate)^Term − 1]. In the early months most of the installment goes to interest, and principal repayment increases over time. For example, a 500,000 TRY loan at 2% monthly interest over 36 months results in a monthly installment of approximately 18,910 TRY.

What is the tax-inclusive annual compound rate? How does it differ from official APR/YMO?

The rate shown here converts the combined monthly interest and KKDF/BSMV period cost into an annual compound figure. It is not required to match a bank or regulator statutory annual percentage rate (APR/YMO); use the YMO on your bank offer for comparisons.

How does total cost change as the loan term gets longer?

As the term lengthens, the monthly installment falls while total interest rises. Hypothetical example (from this calculator; not a bank offer): 500,000 TRY housing loan, fixed monthly 2% interest, KKDF/BSMV 0%; allocation fees, insurance and appraisal excluded. Approximate total interest: 134,453 TRY over 24 months, 206,191 TRY over 36 months, 282,444 TRY over 48 months. Verify with your own inputs; prefer the shortest term you can afford.

Turkey Loan Calculator

Fixed monthly interest • equal instalments • Turkey KKDF/BSMV assumptions. Not a bank offer or a definitive repayment schedule; allocation fees, insurance and appraisal are excluded.

Loan Parameters

Loan Type

Loan Amount

Monthly interest rate (%) — example: 2.50

This field is a monthly interest rate; do not enter an annual rate as-is. For a nominal annual rate use annual/12 when the contract allows; for an effective annual rate use (1+effective)^(1/12)−1.

Term (Months)

1 Years 0 Months

I already own a registered residence or residential share at the loan date

If checked, the housing-finance BSMV exemption is not assumed; the BSMV rate is not chosen automatically — enter the rate your bank reports. If unchecked, for housing finance after 28.12.2023 the exemption is assumed when you had no registered residence on the loan date.

No Results

Please enter loan parameters.

How are the loan instalment and repayment schedule calculated?

1Select the loan type.
2Enter the amount, term, monthly interest rate and any other required inputs.
3Review the automatically updated instalment, total repayment and schedule.
4Optionally download the existing Excel or PDF output.

Calculation Information

KKDF & BSMV Rates

Loan Type	KKDF	BSMV
Housing	%0	0% / 15%
Vehicle	%15	%15
Consumer	%15	%15

Housing loans have 0% KKDF. The BSMV exemption after 28 Dec 2023 is limited to housing-finance loans for consumers who do not own a registered residence or share at the loan date; otherwise BSMV is 15%. Vehicle and consumer loans apply 15% KKDF and 15% BSMV on interest.

Formulas

Monthly Rate

The form field is a monthly interest rate. To convert a nominal annual rate to monthly, use annual/12 when the contract allows; for an effective annual rate the monthly equivalent is (1 + annual effective)^(1/12) − 1.

Monthly Payment

Equal installment formula: A = P × q / (1 − (1+q)^(−n)); q = r × (1 + KKDF + BSMV).

KKDF

Interest × 15% (0% for housing; the ownership checkbox does not change KKDF)

BSMV

Interest × rate (15% for consumer/vehicle; 0% for exempt housing; user-entered for non-exempt housing)

Total repayment

Principal + interest + KKDF + BSMV (sum of schedule rows)

Tax-inclusive annual compound rate

The rate entered in the form is monthly; it is converted to a tax-inclusive annual compound rate. Formula: period cost rate q = monthly interest × (1 + KKDF + BSMV), annual compound rate = (1 + q)¹² − 1. This is not an official APR/YMO.

Loan Types

Housing loans usually have lower rates and longer terms.

Vehicle loans are for car purchases.

General purpose personal loans.

Interest Calculation

Interest is calculated on the remaining principal.

• Monthly interest = Balance * Rate

• Taxes added to interest

• Principal = Payment - (Interest + Taxes)

• Balance reduces each month

• Total interest decreases over time

Tips

• Compare rates

• Shorten term if possible

• Check additional fees

• Consider insurance costs

• Read fine print

Early repayment

Early-repayment rules depend on the contract type and the interest structure.

• For fixed-rate housing finance, early-repayment compensation may be charged if the contract so provides.

• If the remaining term does not exceed 36 months, compensation may be at most 1% of the prepaid principal.

• If the remaining term exceeds 36 months, compensation may be at most 2%.

• Compensation cannot exceed the interest reduction granted because of the early repayment.

• For variable-rate housing finance, early-repayment compensation cannot be demanded.

• The housing-finance 1%/2% rule is not used for vehicle and consumer credit; on early repayment, remaining interest and other cost items must be reduced as required.

Frequently Asked Questions

Official sources

Reviewed: September 15, 2026

Legal Disclaimer

Calculation tools are for informational and preliminary calculation purposes only. Legislative changes may not be reflected immediately in the calculation tools available on the site. They are not binding in official declarations or legal proceedings. They do not replace financial consultancy or legal advice. For definitive results, you can contact me. ozcankutlu.com cannot be held responsible for damages arising from calculation errors or legislative changes.