Frequently Asked Questions About Personal Loans
1. Should I get a fee-free loan or a loan with a low interest rate?
To determine which is more cost-effective, a fee-free loan or a loan with a low interest rate, you need to sum up your expenses and the interest amounts you will pay and compare them. However, if you want to have more money in hand when you start repaying the loan, then you can opt for a fee-free loan.
2. I am going on vacation and want to take out a loan. Should I apply to banks that offer vacation loans?
Banks may offer personal loans under different names in some situations. Vacation loan is one of them and is nothing more than a name. Apart from the name, it is no different from other types of personal loans. Consequently, it would be better for you to find the least costly option among the banks and apply.
3. I applied for a loan and the bank rejected me. Can I get a personal loan from another bank?
The negative evaluation of your application to one bank does not mean that other banks will make the same decision. Banks have their own specific conditions. Therefore, you have a chance to get a loan from another bank. However, there is a possibility that the new bank you will apply to may learn that you were rejected by the previous bank and may be influenced by the decisions of other banks. Nevertheless, this situation is not an obstacle to applying.
4. I was a guarantor for other people who wanted to take out loans. Will this affect my ability to get a loan?
While banks need to evaluate this issue, there is a possibility of problems. According to banks, you are also responsible for the loan of the person you are a guarantor for. They may reduce the loan they give you or not approve it. However, if the person you are a guarantor for pays their loan regularly, this may not cause any problems for you.
5. I have several bank loan debts. Can I consolidate all my debts with a personal loan?
After finding the most suitable bank for you, you can apply and close your debts. If you cannot get a new loan due to your debts, you need to explain this to the bank you want to get a loan from and tell them that you want to restructure your debts with your loan.
6. Are taxes paid on personal loans?
In addition to the principal and interest payment, the person taking out a personal loan must pay KKDF and 5% BSMV on the interest to be paid. You can see these taxes on the payment schedule created for the personal loan.
7. Will I be penalized if I pay off my personal loan early?
Unlike housing loans, there is no penalty for early repayment of personal loans. If you pay one or more installments of your personal loan, you will receive an interest discount and will not pay any penalty. Our recommendation for consumers who want to pay more than one installment without changing the maturity is to visit the bank branch and make a balloon payment by adding the payment amount to the payment schedule.
