# Loan interest rate Turkey: calculator with KKDF and BSMV

URL: https://fincodelabs.com/en/tools/turkey-loan-calculator · Publisher: Fincode (Fincode Yazılım ve Teknoloji A.Ş.), Istanbul, Turkey · Updated: 2026-10-15

Choose the loan type, which fills in the KKDF and BSMV rates, and enter the amount, the monthly interest rate and the term to see the monthly installment, the total repayment, the interest and taxes in it and the compound annual cost. No bank offers are shown. Free, no sign-up required.

## Calculator

The calculation runs in the browser in the form on this page: https://fincodelabs.com/en/tools/turkey-loan-calculator

**Inputs**
- Loan type: Fills in KKDF and BSMV; you can change both rates
- Loan amount (TRY): The principal you borrow (default: 100,000)
- Monthly interest rate (%): The monthly contract rate before taxes, as banks in Turkey quote it (default: 3.5)
- Term (months): Number of monthly installments (default: 12)
- KKDF rate (%): Resource Utilization Support Fund levy on the interest; see the table below (default: 15)
- BSMV rate (%): Banking and insurance transactions tax on the interest; see the table below (default: 15)

**Results:** Monthly installment, Total repayment, Total cost of the loan, Interest, KKDF, BSMV, Annual cost rate (compound)

> Equal monthly installments, a fixed rate for the whole term and a first installment one month after the loan is paid out are assumed, with KKDF and BSMV charged on the interest in each installment. Fees, insurance and other charges are not included, and a bank's payment plan can differ by a few kuruş because of rounding.

## How loan installments are calculated in Turkey

Most consumer loans in Turkey are repaid in equal monthly installments, and banks quote the contract rate per month. Two charges are added to the interest on consumer loans: the Resource Utilization Support Fund levy (*KKDF*) and the banking and insurance transactions tax (*BSMV*). Both are charged on the interest, so the calculator first loads the monthly rate:

**Monthly rate with taxes (r) = monthly interest rate × (1 + KKDF rate + BSMV rate)**

**Monthly installment = loan amount × r ÷ (1 − (1 + r)^(−term))**

**Total repayment = monthly installment × term in months**

**Interest = (total repayment − loan amount) ÷ (1 + KKDF rate + BSMV rate)**; **KKDF = interest × KKDF rate**; **BSMV = interest × BSMV rate**

**Annual cost rate (compound) = (1 + r)^12 − 1**

With a rate of zero the installment is the amount divided by the term. The annual cost rate covers interest, KKDF and BSMV only; fees and insurance, which change the total cost of a real loan, are not part of it.

## Worked example

> **Hypothetical example:** a TRY 100,000 personal loan at 3.5% a month for 12 months. As of November 2026 personal loans carry 15% KKDF and 15% BSMV, and choosing the personal loan type fills in both. These are the calculator's default values; no bank's offer is implied.
>
> Monthly rate with taxes: 3.5 × (1 + 0.15 + 0.15) = 4.55%. Monthly installment: 100,000 × 0.0455 ÷ (1 − 1.0455^(−12)) = **TRY 10,998.01**. Total repayment: TRY 131,976.10, so the loan costs TRY 31,976.10: TRY 24,597.00 of interest, TRY 3,689.55 of KKDF and TRY 3,689.55 of BSMV. Annual cost rate: 1.0455^12 − 1 = 70.56%.
>
> The same figures as a housing loan with no KKDF and exempt from BSMV give an installment of TRY 10,348.39, a total repayment of TRY 124,180.74 and an annual cost rate of 51.11%: in this example the two charges add about TRY 7,795.

## KKDF and BSMV rates by loan type (November 2026)

**KKDF and BSMV on lira loans, as of 6 November 2026**

| Loan type | KKDF | BSMV | Calculator fills in |
| --- | --- | --- | --- |
| Personal (general-purpose) loan | 15% | 15% | 15% and 15% |
| Vehicle loan | 15% | 15% | 15% and 15% |
| Housing loan | See the payment plan | 0% if no home is registered to the borrower on the loan date | 0% and 0% |
| Commercial and other lira loans | 0% | From the contract | 0% and an empty field |

- **KKDF:** Decision No. 2010/974 (Resmî Gazete, 28 October 2010) sets 15% for consumer loans that banks and finance companies give to individuals for non-business purposes, vehicle loans included. Presidential Decision No. 10094 of 17 July 2025 sets 0% for other lira loans. No official text read for this page states the KKDF rate on housing loans, so take it from the bank's payment plan.
- **BSMV:** Presidential Decision No. 7345 (Resmî Gazete, 7 July 2023) raised BSMV on consumer loans from 10% to 15% for loans from that day. Article 29(1)(y) of Expense Taxes Law No. 6802, as amended by Law No. 7491, exempts housing loans to consumers who had no home registered in their name on the loan date, and their refinancing.

## Average loan and credit card rates: the official figures

The calculator shows no bank offers. The official averages come from the Central Bank of the Republic of Türkiye (TCMB):

- **Weekly loan rates:** the TCMB's EVDS data system publishes weighted average rates on new lira loans every week ("Bankalarca TL Üzerinden Açılan Kredilere Uygulanan Ağırlıklı Ortalama Faiz Oranları") as effective annual rates; the housing series covers fixed-rate loans only. In the week ending 16 October 2026 they were 61.5% for personal loans (overdrafts excluded), 41.5% for housing loans and 43.6% for vehicle loans, according to the Monetary Policy Committee summary of 30 October 2026.
- **Credit cards:** the TCMB sets monthly maximum rates for credit card debt and announces them on the fifth-last business day of each month; banks set their own rates up to these caps.

**TCMB maximum monthly interest rates on credit cards, valid from 1 November 2026**

| Debt or use | Maximum contract rate | Maximum default rate |
| --- | ---: | ---: |
| Lira statement balance under TRY 30,000 | 3.25% | 3.55% |
| Lira statement balance of TRY 30,000 to 180,000 | 3.75% | 4.05% |
| Lira statement balance over TRY 180,000, and corporate cards | 4.25% | 4.55% |
| Cash withdrawals and overdraft accounts | 4.25% | 4.55% |
| Foreign currency card transactions | 2.98% | 3.28% |

To compare a monthly contract rate with these annual averages, compound it: 3.5% a month is 1.035^12 − 1 = 51.11% a year before KKDF and BSMV. An average or a cap is not an offer. The policy rate behind these figures is explained in [Turkey interest rate](https://fincodelabs.com/en/blog/turkey-interest-rate).

## Can foreigners get a loan or a mortgage in Turkey?

Whether a bank lends to a foreigner, resident or not, and on what terms, is each bank's own decision. What the Banking Regulation and Supervision Agency (BDDK) publishes is the maximum housing loan as a share of the home's value. Its decision No. 11364 of 29 January 2026, for housing loans to consumers and other loans secured on a home, sets the limits by the home's value and the energy class on its energy performance certificate:

**Maximum loan as a share of the home's value, BDDK decision No. 11364 of 29 January 2026**

| Value of the home | Energy class A or B | Class C | Other classes |
| --- | ---: | ---: | ---: |
| Up to TRY 5 million | 90% | 80% | 70% |
| Over TRY 5 million, up to 7 million | 80% | 70% | 60% |
| Over TRY 7 million, up to 10 million | 70% | 60% | 50% |
| Over TRY 10 million, up to 20 million | 50% | 40% | 30% |
| Over TRY 20 million | 40% | 30% | 20% |

The decision keeps the rule of BDDK decision No. 10656 of 24 August 2023: if the borrower, the spouse or a child under 18 already owns at least one home, the ratio is cut by 75%, so 90% becomes 22.5%. Homes in villages and shares of 50% or less in a home are left out of that test. These are upper limits, not a promise that a bank will lend that much.

## Insurance, early repayment and which values to enter

- **Insurance:** under Articles 29 and 38 of Consumer Protection Law No. 6502, credit-linked insurance can be added only at the consumer's explicit request, in writing or on a durable medium, and the lender must accept cover from an insurer the consumer chooses.
- **Early repayment:** a consumer can repay one or more installments, or the whole loan, early, and the lender must reduce the interest and other costs to match (Article 27). On a fixed-rate housing loan, if the contract provides for it, the lender may charge an early repayment fee of at most 1% of the amount repaid when the remaining term is 36 months or less, and at most 2% when it is longer; no fee applies to a variable-rate loan (Article 37).

Enter the loan type, the amount, the bank's monthly contract rate before taxes and the term in months. If only an annual rate is quoted, use the contract's monthly rate; dividing a nominal annual rate by 12 gives an approximation (42% a year is 3.5% a month), and the calculator warns about monthly rates above 10%. Change the KKDF and BSMV fields if your payment plan shows other rates. Lira deposit returns are worked out by the [Turkey deposit interest calculator](https://fincodelabs.com/en/tools/turkey-deposit-interest-calculator).

## Frequently asked questions

### What is the average loan interest rate in Turkey?

The TCMB's weekly averages for new lira loans in the week ending 16 October 2026 were 61.5% for personal loans, 41.5% for housing loans and 43.6% for vehicle loans, as effective annual rates. Each bank sets its own rate, so these are averages, not offers.

### What are KKDF and BSMV on a loan in Turkey?

They are two charges on the interest of personal and vehicle loans: KKDF, a fund levy of 15%, and BSMV, a banking tax of 15%, as of November 2026. They turn a 3.5% monthly rate into a monthly cost of 4.55%.

### Is there BSMV on housing loans in Turkey?

Housing loans to consumers who had no home registered in their name on the loan date are exempt from BSMV under Law No. 6802. Check the KKDF and BSMV lines of the bank's payment plan for your own loan.

### What is the maximum credit card interest rate in Turkey?

From 1 November 2026 the TCMB caps the monthly contract rate on lira card debt at 3.25% for statement balances under TRY 30,000, 3.75% up to TRY 180,000 and 4.25% above that and for cash withdrawals.

### How much can a foreigner borrow for a home in Turkey?

BDDK caps the loan by the home's value and energy class, from 90% of the value for an A or B class home worth up to TRY 5 million down to 20% above TRY 20 million, cut by 75% if the borrower, the spouse or a child under 18 already owns a home. Whether a bank lends to a foreigner at all is the bank's decision.

## Sources

- [Resmî Gazete: Decision No. 2010/974 on Resource Utilization Support Fund (KKDF) deductions (28 October 2010, No. 27743) (Turkish)](https://www.resmigazete.gov.tr/eskiler/2010/10/20101028-3.htm)
- [Resmî Gazete: Presidential Decision No. 10094 on KKDF deductions on other loans (18 July 2025, No. 32959) (Turkish)](https://www.resmigazete.gov.tr/eskiler/2025/07/20250718-10.pdf)
- [Resmî Gazete: Presidential Decision No. 7345 on BSMV rates (7 July 2023, No. 32241) (Turkish)](https://www.resmigazete.gov.tr/eskiler/2023/07/20230707-10.pdf)
- [Mevzuat: Expense Taxes Law No. 6802, Article 29, consolidated text (Turkish)](https://www.mevzuat.gov.tr/mevzuatmetin/1.3.6802.pdf)
- [Mevzuat: Consumer Protection Law No. 6502, Articles 27, 29, 37 and 38, consolidated text (Turkish)](https://www.mevzuat.gov.tr/mevzuatmetin/1.5.6502.pdf)
- [BDDK: Board decision No. 11364 on loan-to-value ratios for housing loans (29 January 2026) (Turkish)](https://www.bddk.org.tr/Mevzuat/DokumanGetir/1327)
- [BDDK: Board decision No. 10656 on housing loans to existing homeowners (24 August 2023) (Turkish)](https://www.bddk.org.tr/Mevzuat/DokumanGetir/1191)
- [TCMB: Monetary Policy Committee meeting summary No. 2026-47 (30 October 2026) (Turkish)](https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Duyurular/Basin/2026/DUY2026-47)
- [TCMB: Metadata of the weekly weighted average loan rates (Turkish)](https://www.tcmb.gov.tr/wps/wcm/connect/33e09fa9-51fb-412f-b38d-0b7cdbaea493/Metaveri_Kredi_Ag%C4%B1rl%C4%B1kl%C4%B1_T%C3%BCrkce.pdf?MOD=AJPERES)
- [TCMB: Maximum interest rates on credit card transactions (Turkish)](https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Istatistikler/Bankacilik+Verileri/Kredi_Karti_Islemlerinde_Uygulanacak_Azami_Faiz_Oranlari)

> This calculator is general information, not tax, legal or investment advice. Results depend on the values you enter; rates, ceilings and amounts in Turkey change often, so check the date of each figure and the official source, and ask a licensed adviser about your own situation. Sources, checks and corrections: see the [editorial policy](https://fincodelabs.com/en/editorial-policy).

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Published by Fincode (Fincode Yazılım ve Teknoloji A.Ş.), a software company in Istanbul, Turkey: https://fincodelabs.com/en/tools/turkey-loan-calculator

Cite as: Fincode, "Loan interest rate Turkey: calculator with KKDF and BSMV", updated October 15, 2026, https://fincodelabs.com/en/tools/turkey-loan-calculator