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Which Credit Type Should I Apply

First of all, what you need for money is to choose which type of loan is suitable for us. Banks apply various analysis to the people who request credit and try to offer them the most appropriate maturity options for their income profile. However, the unrecorded incomes in our country are very high and the bank systems cannot analyze the income situation of the people who request credit; It may cause various problems in returning to consumer loans.

For this reason, banks often do not analyze the situation of the people who request credit, and the people who request it do not know how to adjust their payment order. Especially in general purpose loans, unlike other types of loans, collateral cannot be shown mostly; the wreck rate is high.

How Much Credit Can I Pay Monthly?

You should determine how much credit installments you have the ability to pay monthly before applying for a loan. In our country, most banks, with the exception of exceptions; requests that your total monthly loan payment not exceed fifty percent of your income. The rate, accepted by major financial companies worldwide, is at the level of forty percent of your monthly income.

The reason for this rate is the fact that you can meet your basic needs with your income other than credit payments. In our country, this rate has been expanded by some banks due to the high level of informal income. For this reason, experts; Even if banks have given loans with high monthly payments, they recommend that individuals pay monthly up to 40 percent of their regular income. For example,

Every individual who applies and receives a loan wants to finish the loan as soon as possible. However, the point that most people skipped; This is to decrease the budget allocated to our basic needs and social needs as the amount of loan to be paid monthly increases. You may not feel this decrease with the correct maturity method.

After calculating how much budget you can allocate monthly to your basic and social needs; Taking the remaining amount into consideration, determining the maturity of the cat is one of the most correct steps to take. If you think that you will have difficulty in your monthly loan payments; you must extend the maturity. However, you should not overlook that the longest term to be withdrawn for general purpose loans is 36 months.

What Is The Highest Loan Amount I Can Withdraw?

The monthly loan amount you calculate multiplied by your maturity; When you add the estimated total interest you will pay, you can find the maximum amount of credit you can withdraw. But it is wrong to say that I can pay and get more credit than you need. Monthly and total payments of each additional amount you receive from the bank also brings with it the additional burden.

On the other hand, if you take less credit than you need; In the future, it causes you to take a second loan as the first loan is not enough. This can cause you to pay both loans at the same time and put you in a difficult situation. The best option is to determine the amount you need clearly and to request credit for the amount you need.

What are the Costs That Can Be Included During the Credit Process?

Calculation of all costs that you may encounter during the loan process; it is the most difficult one among the calculations we mentioned. To calculate the costs more comfortably; You can divide it into two groups as you can guess and you cannot guess.

The costs you cannot estimate cannot naturally be calculated, but on average you should allocate an additional budget. The expenses that can be estimated and you have to allocate a budget regularly should be included in the expenses for loan purchase. Monthly loan payments should be calculated accordingly.