Personal, Mortgage and Auto Loan Calculator
Calculate your monthly payment, total repayment and full amortization schedule from loan amount, monthly interest rate and term.
This tool is for informational purposes only. Calculation methodology reflects standard amortizing loan formulas; Turkey-specific lender practices (BSMV, KKDF taxes, regulatory caps) may apply. Verify with your lender.
How Is a Monthly Loan Payment Calculated?
Banks use the standard amortizing loan (PMT) method. The total monthly payment is constant, but the split between principal and interest shifts each month. Early in the term most of the payment is interest with little principal repaid; later in the term that ratio inverts.
Calculation Formula
Payment = Principal × [r × (1+r)ⁿ] ÷ [(1+r)ⁿ − 1]
r = monthly interest rate · n = term in months
Example Scenario Table
| Scenario | Monthly Payment | Total Repayment | Total Interest |
|---|---|---|---|
| 500,000 TRY mortgage (2.49%/mo) 120 mo | ≈ 14,700 TRY | ≈ 1,764,000 TRY | ≈ 1,264,000 TRY |
| 100,000 TRY personal (3.99%/mo) 24 mo | ≈ 5,760 TRY | ≈ 138,240 TRY | ≈ 38,240 TRY |
| 250,000 TRY auto (2.99%/mo) 48 mo | ≈ 9,380 TRY | ≈ 450,240 TRY | ≈ 200,240 TRY |
| 50,000 TRY personal (4.50%/mo) 12 mo | ≈ 5,750 TRY | ≈ 69,000 TRY | ≈ 19,000 TRY |
* Approximate figures. KKDF, BSMV taxes and origination fees are excluded.
Relationship Between Principal, Interest Rate and Term
These three variables trade off against each other. With a fixed principal, extending the term lowers the monthly payment but materially increases total interest paid. Lowering the rate reduces both the monthly payment and total repayment. The calculator runs in three modes: payment, maximum loan amount, or effective interest rate. Enter any two known values and it will solve for the third.
Impact of BSMV and KKDF Taxes on Payments (Turkey)
Turkish consumer loans are subject to two taxes layered on the interest charge: BSMV (Banking and Insurance Transaction Tax, 5%) and KKDF (Resource Utilization Support Fund, 15%). Together this 20% load increases the effective rate on personal and auto loans. Mortgages are exempt from both taxes.
Personal Loan
KKDF + BSMV = 20%
Auto Loan
KKDF + BSMV = 20%
Mortgage
Exempt ✓
Legal Limits to Watch When Borrowing in Turkey
BDDK Maximum Term Limits for Personal and Auto Loans
The Banking Regulation and Supervision Agency of Turkey (BDDK) sets maximum terms on consumer lending to limit overborrowing.
| Loan Type | Maximum Term | Tax Status |
|---|---|---|
| Personal Loan | 36 months | KKDF + BSMV |
| Auto Loan | 48 months | KKDF + BSMV |
| Mortgage | 120 months | Exempt |
| Small Business / SME Loan | Variable | Exempt or BSMV |
Appraisal Value and Loan-to-Value Limits on Mortgages
Mortgage lenders use the value set by an independent appraiser, not the price recorded on the title deed. The legal LTV (Loan to Value) ceiling in Turkey is 80%.
Maximum Loan = Appraisal Value × 80%
Example: 5,000,000 TRY appraisal → maximum loan 4,000,000 TRY · down payment 1,000,000 TRY
Other Factors That Affect Loan Cost
Origination Fees and Insurance
The monthly payment and interest rate alone do not reflect the full cost of borrowing. Consider these additional items:
Origination Fee
Max 2% (BDDK cap)
Life Insurance
Not legally required, lenders may ask
Home / DASK Insurance
Mandatory on mortgages
TFF (Total Financing Cost) bundles interest plus all fees and insurance into a single annual figure. Use TFF for true apples-to-apples comparison across lenders.
Benefits of Early and Partial Prepayment
Mid-term partial payments or full early payoff cancel future-period interest and substantially reduce total repayment. The amortization schedule shows that interest is front-loaded, so prepayments made early in the term save the most.
Early Payoff Fee
Outstanding principal × max 2%
Interest Savings
All interest on remaining months
Partial Payment Effect
Lower principal, shorter term