Hello,
Finances and banking can sometimes be a headache for many expats, especially when it comes to taking out bank loans.
Is it difficult for an expat to get approved for a bank loan in Turkey?
What are the types of bank loans available for expats (mortgage/bonds; business loans; car loans; personal loans; student loans)?
What are the general conditions for expats to take out bank loans (interest rates; timeframe to repay loans, etc.)?
Which bank in Turkey is the most popular or accessible for expats regarding loans?
Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?
What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?
Are there any other options for loans aside from the bank in Turkey, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?
Thank you for sharing your experience.
Priscilla
Bank loans in Turkey
If you are interested in micro-credits then I would say Colendi.com, which is a decentralised credit scoring company
As far as I know, beside work and payroll, you can only get a credit card as a foreigner in Turkey if you put the credit limit in a bank account, that you won't have access to it. Means if you want 30000 TL credit card you have to put 30000 TL in a bank account as deposit. Please correct me if I'm wrong.
At least for Turkiye Is that is not the case. They put limit based on the salary you receive but no deposit was required.
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