There is a surge in demand for marriage loans.

Thousands of couples wishing to get married in Turkey have focused on President Recep Tayyip Erdoğan's announcement regarding the marriage incentive loan. There is a high demand for the marriage loan application. This loan, implemented to cover the expenses related to marriage for young couples, is offered with a 48-month term and low interest rates. This state-supported program aims to alleviate the economic burden on couples.

HIGH NUMBER OF APPLICATIONS RECEIVED

In the Cabinet Meeting on January 6, President and AK Party Chairman Recep Tayyip Erdoğan announced that the marriage loan, which was initiated in February last year and implemented for the earthquake region, has spread to all 81 provinces. Following this news, thousands of people applied for the loan.

The number of applicants for the 150,000 TL loan provided by the Ministry of Family and Social Services to newlyweds exceeded 10,000 in just 11 days.

Erdoğan also announced that they have increased birth assistance this year, stating that a birth assistance of 5,000 TL will be provided for the first child.

WHAT ARE THE APPLICATION REQUIREMENTS?

The application requirements for the marriage loan are as follows:

* Being a citizen of the Republic of Turkey and residing in Turkey,

* Being between the ages of 18-29 as of the application date (must be over 18 and under 30),

* Not being a property owner or shareholder,

* The average total income of the couple for the last 6 months and the total income for the last month must not exceed 2.3 times the minimum wage,

* As of the application date, there must be at least 2 months and at most 6 months until the official wedding date,

* Committing to benefit from and participate in the pre-marriage training and counseling services offered by the Ministry,

* Committing to participate in the post-marriage training services offered by the Ministry within 2 years,

* Even if pardoned; not having a final conviction for crimes against the security of the state, constitutional order, and the functioning of this order, as well as crimes against sexual inviolability; drug or stimulant production and trafficking, facilitating the use of these substances, purchasing, accepting, or possessing drugs or stimulants for use, or using drugs or stimulants,

* Not having previously used a loan within the scope of the project.

BABY ASSISTANCE FOR FAMILIES

Under the birth assistance announced by Erdoğan, a one-time payment of 5,000 TL will be made for the first child born after January 1, 2025.

For mothers with a second child, 1,500 TL will be deposited into their accounts every month. After the implementation date, a mother with three children will receive 6,500 TL monthly, a mother with four children will receive 11,500 TL monthly, and a mother with five children will receive 16,500 TL monthly.

However, for a mother who has two children before the specified date of January 1, 2025, and gives birth to her third child after this date, only 5,000 TL will be deposited monthly for the third child, and the birth assistance will continue until the children turn 5 years old.