Pozitif Consultant
Frequently Asked Questions
What's individual loan (consumer loan)?
These are the loans utilized by real persons for financing their needs for non-commercial goods and services.
What's Maturity?
It's the period of time allowed for the repayment of a loan used.
What's Loan Interest?
It's the cost paid by the customer to the bank for using the loan.
What's Repayment Schedule?
It's the payment schedule, mutually agreed at the time when the loan is extended, that contains the loan maturity, interest rate, installment amount, and taxes and duties payable.
Am I allowed to make early payments for consumer loans?
As per the Law Regarding the Protection of Consumers numbered 4822, all consumer loans may be repaid, totally and/or partially, early.
What if I cannot repay the installments?
The Law Regarding the Protection of Consumers numbered 4822 sets forth the rules that apply to unpaid installments. This law requires that a default interest, which is 30% above the interest rate of the loan contract constituting the basis for the loan, be accrued, and BITT + RUSF be added to this amount; the law also allows legal proceedings to be initiated for loans not repaid within a certain period of time.
