Banks That Offer Interest-Free Home Loans

It does not apply interest to the loans borrowed by individuals. However, they give loans through the profit and loss partnership method. Therefore, they must repay a certain amount of the money they receive with the profit and loss partnership.

However, this is not an application of interest. In addition to the banks; It is also possible to obtain interest-free home loans from institutions such as Sean Cole. However, the conditions are a little different in Sean Cole.

Persons cannot take the loan in the month they applied directly and cannot settle in the house they took the month they applied directly.

People join a group of people who want to buy a certain number of houses, and according to the draw drawn within the group, one person becomes a host every month.

There is also the possibility to obtain interest-free loans from the state and artisans. However, they must be registered with the Chamber of Merchants and Craftsmen.

What are the Requirements to Get Interest-Free Home Loans?

money

Requirements for obtaining interest-free home loans are as follows:

  • In banks that are not included in the participation bank system, in order to get 0 interest loans up to 60 months maturity; The person must pay 25% down payment for the housing loan.
  • The rate of dividend to be applied to the mortgage loan received by individuals; It varies according to the down payment and contribution amounts that people pay before getting the loan. Therefore, people who want to get credit with a lower profit share rate; more down payment is required.
  • People who will pay down payment below 20% are not given zero-interest loans. From the state.

Good Finance Interest-Free Home Loan Calculation

If Good Finance needs to calculate interest-free home loan; Assume that 100.000 USD mortgage loan is obtained with a 120-month maturity. The rate of dividend applied to this loan is determined as 1.47%.

The number of installments requested from the person to pay monthly; It is 1.779 USD. The amount that the person is expected to repay in total is; It is 214.464 USD.

Interest-Free Home Loans We recommend you to read our Good Finance article.

Good Credit Interest-Free Home Loan Calculation

cash

If it is necessary to calculate Good Credit interest-free home loan; Assume that 100.000 USD mortgage loan is obtained with a 120-month maturity.

rate of dividend applied to this loan is determined as 1.64%. The number of installments requested from the person to pay monthly; It is 1.911 USD. The amount that the person is expected to repay in total is; It is 230,624 USD.

Good Credit Participation Interest-Free Home Loan Calculation

money

If it is necessary to calculate an interest-free home loan for Good Credit Participation; Assume that 100.000 USD mortgage loan is obtained with a 120-month maturity.

The rate of dividend applied to this loan is determined as 0.99%. The number of installments requested from the person to pay monthly; It is 1.428 USD. The amount that the person is expected to repay in total is; It is 172.202 USD.

We recommend you to read our article on Good Credit Participation Bank Home Loan.

Honest Bank Participation Interest-Free Home Loan Calculation

Financial contributions while Turkey must make interest-free home loan calculations; Assume that 100.000 USD mortgage loan is obtained with a 120-month maturity.

The rate of dividend applied to this loan is determined as 1.60%. The number of installments requested from the person to pay monthly; It is 1.880 USD. The amount that the person is expected to repay in total is; It is 226.339 USD.

Your Bank Interest-Free Home Loan Calculation

Your Bank Interest-Free Home Loan Calculation

If your Bank needs to calculate interest-free home loan; Assume that 100.000 USD mortgage loan is obtained with a 120-month maturity. The rate of dividend applied to this loan is determined as 1.47%.

The number of installments requested from the person to pay monthly; It is 1.779 USD. The amount that the person is expected to repay in total is; It is 214.464 USD.

Leave a Reply

Your email address will not be published. Required fields are marked *