Banks are the type of periodic campaign credit that consumers make for shopping, visiting and holiday expenses during the times of sacrifice and Ramadan. Almost every bank competes with one another to give loans under the name of a holiday loan.
2019 Festive Loan Terms?
- As with all loans, we need to be 18 years old to get festive loans.
- Our credit rating that all banks give importance is not at a risky level.
- We document and declare all our income with paperwork.
- Eid loan term demands not more than 36 months.
- The loan we demand does not exceed half of the income we declare monthly installment.
Highest Term in Eid Loan?
As the Good Finance investment Corporation (GFIC) regulates all bank maturities, the holiday loan cannot exceed 3 years (36 months) due to the type of consumer loan. When you exceed 36 months of maturity, you can not take advantage of the holiday loan interest rates.
Documents and Documents Required for Festive Loan Application
For Wage Employees ;
- Identity Card, Driver’s License or Passport
- Current invoice (natural gas, electricity, water or telephone)
- Document showing additional income, if any
- Salary Payroll and Company Signature Circular
For retirees ;
- Retirement Salary Wallet
- Bank Information on Retirement Salary Deposit
For those who have a company ;
- Tax Board
- Commercial Registry Gazette
- Room Registration Certificate
Banks that provide the most appropriate holiday loans 2019
There are holiday loan campaigns in almost every bank. Some banks may be more attractive to interest rates and campaign options. Below, we have listed the banks that give you the most suitable holiday loans.
You can find the credit products of other banks on our bank’s page. The banks that gave the most appropriate holiday loans ;
Eid Loan Interest Rates 2019
Solving our urgent cash needs by credit is not a profitable business, as banks generally raise interest rates. In some emergencies, we even need to take out a loan even if we are at a loss.
At such times, we have to choose the lowest interest rate and the one with a higher maturity option. Apart from the interest rate and maturity option, the most important point is the life insurance cost.
Since the loan allocation fee is fixed, it does not matter much. The interest rates below are written according to the option of 10.000 USD 36 months.
Holiday Loan Calculator 2019
We made the example of a holiday loan calculation with the interest rates of 10.000 USD and 3 years (36 months) with the nine banks we gave you above.
Considering the interest rates above, GFI bank gives the most suitable holiday loan. Interest rates may vary depending on the amount you will receive from banks and the number of terms.
In the table below, we have shared an example of a holiday loan calculation with 15,000 USD and 3 years (36 months) maturity option.