How are Turkish personal loan rates quoted?

Banks usually quote a monthly interest rate (aylık faiz oranı) for consumer loans rather than an annual one. A 4% monthly rate is roughly a 48% nominal annual rate before compounding. The calculator works from the monthly rate so the payment matches the bank's offer exactly.

What are BSMV and KKDF on a loan?

Turkey adds two levies to the interest on consumer loans: the banking and insurance transactions tax (BSMV, 5% of interest) and the resource utilisation support fund (KKDF, 15% of interest). They apply to the interest portion of each instalment, raising the effective cost above the headline rate. The tool can include them.

How is the monthly payment calculated?

It uses the standard amortising-loan formula: payment = P × i ÷ (1 − (1 + i)^−n), where P is the amount borrowed, i is the monthly interest rate, and n is the number of months. Every instalment is equal; early payments are mostly interest and later ones mostly principal.

Is there a cap on consumer loan rates in Turkey?

Regulators (BDDK) periodically cap consumer-loan rates relative to a reference rate, and caps have moved with monetary policy. This calculator does not enforce a cap — it simply computes the cost of whatever rate you enter, so you can compare offers against any current limit.

Does early repayment reduce the cost?

Yes. Because interest accrues on the outstanding balance, paying off early cuts the remaining interest, though banks may charge a small early-settlement fee (capped by law). This tool shows the standard full-term schedule; pay down faster and you will owe less than the totals shown.

Turkey Personal Loan Calculator

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A Turkey personal loan calculator shows the true cost of a Turkish consumer loan (tüketici kredisi / ihtiyaç kredisi). Turkish banks quote a monthly interest rate and add two levies — BSMV (5%) and KKDF (15%) — on top of the interest, so the headline rate understates what you pay. This tool computes the fixed monthly instalment, the total interest, those levies, and a full amortisation schedule so you can compare offers like-for-like.

How it works

The instalment uses the standard amortising-loan formula with the monthly rate your bank quotes:

payment = P × i / (1 − (1 + i)^−n)

where P is the amount borrowed, i is the monthly interest rate (e.g. 4% = 0.04), and n is the number of months. Each month, interest is charged on the outstanding balance; the rest of the instalment reduces principal. On the interest portion the tool can add BSMV and KKDF, which is where Turkish loans diverge from a simple interest calculation. Early instalments are mostly interest, later ones mostly principal.

Equal instalment each month; interest accrues on the shrinking balance; BSMV + KKDF add 20% on top of the interest.

Worked example

Borrow ₺100,000 over 24 months at 4% per month. The formula fixes the instalment; over two years the total interest is large because the rate is high, and BSMV plus KKDF add a further 20% on the interest. The amortisation table shows how each payment splits between interest and principal until the balance reaches zero. Change the amount, term, or monthly rate and every figure updates instantly. All maths runs in your browser.