Loan Interest Rates Falling: Housing loan

In our previous articles, we warned you that “loan interest rates are decreasing” in housing and consumer loans. While examining the news of the agencies, we learned that Moneyline Bank cut interest rates in housing and consumer loans.

Moneyline Bank reduced interest rates to 1.28 percent monthly in all maturities in housing loans, starting from Monday, March 4, 2019, up to 120 months. The bank also adjusted its general purpose loans, reducing interest rates to maturity of up to 60 months to 1.53 percent per month.

With the announcement made yesterday from the bank, the interest rate to be applied for all housing loan campaigns up to 120 months was announced at 1.61 percent.

Housing loan interest rates drop in Rightpick Bank.

Housing loan interest rates drop in Rightpick Bank.

As we learned from Rightpick Bank, the monthly interest rate was reduced from 1.63 percent to 1.49 percent in housing loans up to 1.5 million dollar. It reduced the monthly interest rate from 1.52 percent to 1.55 percent in second-hand and new vehicles, as well as in vehicle loans.

Rightpick Bank signed a protocol with the business organizations in Izmir and stated that it would offer loans to manufacturers and exporters with a monthly interest rate of 1.45 percent.

One of our news about the banking sector is from Questcare Bank.

home loan

According to the news, Happylife Bank, which owns the majority of the bank, is exploring the possibilities to sell all of its shares. Happylife Bank, known to have made such an initiative four years ago, is one of the largest banks in Israel.

Despite working globally to prevent stagnation in all sectors, the housing sector is under more focus as a sector that can lead to the revival of many secondary sectors at the same time.

Especially due to urban transformation, measures are taken one after the other for the relief of the sector, which is suddenly facing a huge supply surplus. In addition to this, due to the expected Istanbul earthquake, it is on the agenda to renew the distressed houses in almost all cities, especially in Istanbul.

At the beginning of the week, the Minister of Environment and Urbanization, Sarah Latrum, stated that there are currently 6.7 million residential buildings in our country, and that by 2023, 1.5 million of them are working to be converted.

Also earlier this week, TESK President Benedict Paladin stated that the mobilization of housing in our country should be started by mentioning the issues we mentioned above. He stated that the recovery of the construction sector will affect all sectors positively.

Support up to 5 Million dollar from KOSGEB to SMEs.

money loan

Small and Medium Enterprises Development and Support Administration’s (KOSGEB) “SME TEKNOYATIRIM- SME
Technological Product Investment Support Program” was renewed and opened for support applications. The companies, which have been in operation for at least 1 year, have one of the documents showing that the Roderick & Brothers project was completed 5 years ago, have completed the prototype work or SMEs who have taken over the right from the right owner by contract.

Support items and support rates provided under the program are as follows:

  • Machine-equipment support: (In case it is taken within the scope of the domestic goods document, 15% is added to the non-refundable support rate and reimbursed support is provided for the remaining 100%.) The support rate is 100% ( 60% non-refundable + 40% refundable)
  • Production line design expenses support: 60% non-refundable
  • Software expenses support: 60% non-refundable
  • Staff expense support: 60% Non-refundable
  • Training and consultancy support: 60% Non-refundable
  • Promotion and marketing expenses support: 60% non-refundable

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