11.02.2026 10:41
The competition among banks has increased in mortgage interest rates, which those wanting to own a home in Turkey are closely monitoring. Interest rates have dropped to the range of 2.50-2.60% at many banks. Here is the amount a citizen who takes a mortgage of 4 million TL will repay and their monthly installments.
The competition among banks regarding credit interest rates, closely monitored by those wishing to own a home in Turkey and those planning to purchase for investment purposes, has intensified.
Especially the interest rate reduction steps initiated by public banks have also reflected on private banks. While housing loan rates have decreased to the range of 2.50%–2.60% in many banks, expectations for market activity have increased. After the 2.49% interest option of Ziraat Bankası, which stands out as the "lowest rate" in the sector, competition has become even more pronounced.
800,000 TL DOWN PAYMENT REQUIRED FOR A 4 MILLION TL HOUSING LOAN
On the other hand, the recent decision of the Banking Regulation and Supervision Agency (BDDK) has initiated a new era in housing finance. The loan usage rate for houses up to 5 million TL has been increased to 80%. According to this regulation, a buyer of a house valued at 4 million TL needs to pay a down payment of 800,000 TL. The remaining 3 million 200 thousand TL can be financed through a loan.
So, how does the repayment schedule for this amount shape up over 120 months? Here is a sample calculation according to the banks:
CHEAPEST HOUSING LOANS
Loan Amount: 3,200,000 TL
Term: 120 Months
ZIRAAT BANK – 2.49%
Monthly Installment: 82,300 TL
Total Repayment: 9,876,000 TL
Total Interest: 6,676,000 TL
AKBANK – 2.49%
Monthly Installment: 82,300 TL
Total Repayment: 9,876,000 TL
Total Interest: 6,676,000 TL
IS BANK – 2.50%
Monthly Installment: 83,100 TL
Total Repayment: 9,972,000 TL
Total Interest: 6,772,000 TL
VAKIF KATILIM – 2.54%
Monthly Installment: 85,300 TL
Total Repayment: 10,236,000 TL
Total Interest: 7,036,000 TL
KUVEYT TURK – 2.55%
Monthly Installment: 85,900 TL
Total Repayment: 10,308,000 TL
Total Interest: 7,108,000 TL
GARANTI BBVA – 2.69%
Monthly Installment: 94,500 TL
Total Repayment: 11,340,000 TL
Total Interest: 8,140,000 TL
QNB – 2.69%
Monthly Installment: 94,500 TL
Total Repayment: 11,340,000 TL
Total Interest: 8,140,000 TL
HALKBANK – 2.69%
Monthly Installment: 94,500 TL
Total Repayment: 11,340,000 TL
Total Interest: 8,140,000 TL
HALKBANK GENERAL MANAGER: INTEREST RATES MAY FALL TO 2%
Osman Arslan, General Manager of Halkbank and Member of the Board of Directors, noted that monthly interest rates or profit shares for terms of up to 10 years in the Turkish banking sector have been reduced to below 2.5%. Arslan pointed out that this corresponds to an annual cost of about 30%, stating, "As the decline in inflation continues, interest rate cuts at the Central Bank may also come to the agenda, and banks will certainly reflect this interest rate cut on housing loans."
Sharing his expectations regarding housing loans, Arslan said, "The cost rates in housing loans have currently fallen below 2.5% on a monthly basis. I predict that this will reach rates of around 2% towards the end of the year after the second half. This will certainly provide our citizens with a more manageable housing finance opportunity."