Mortgage vs Personal Loan in Turkey — Full Comparison
Rate, maturity, cost and usage differences between the two loan types and when to choose which.
Quick Overview
Mortgages are used only for home purchases, secured by the purchased property. Personal loans can be used for any purpose, usually unsecured.
Feature Comparison
| Feature | Mortgage | Personal Loan |
|---|---|---|
| Rate | Low (2.5-4%/mo) | High (4-6%/mo) |
| Maturity | 120-240 months | 3-48 months |
| Collateral | Property mortgage | Usually none |
| KKDF Tax | No | 15% |
| BSMV Tax | No | 10% |
| Appraisal | Required | Not required |
When to Choose Which?
Mortgage
- Long-term home financing (5+ years)
- Willing to pledge property
- Priority on low rate and long term
Personal Loan
- Short-term needs: vacation, renovation, wedding
- No property to pledge
- Small, quick cash requirements
Cost Example
500,000 TL loan, 60-month term:
| Loan | Monthly | Total Repay |
|---|---|---|
| Mortgage (3%/mo) | ~16,900 TL | ~1,014,000 TL |
| Personal (5%/mo + tax) | ~26,400 TL | ~1,584,000 TL |
The mortgage saves ~570,000 TL over the same term.
Calculate Yours
Compare both loan types with our loan calculator.
Disclaimer: This content is for informational purposes only and does not constitute legal, financial or tax advice. For current regulations, consult official sources (Official Gazette, GİB, SSI). Terms of Service.
Written by
Lale Dijital
Independent digital publishing team building financial calculators and guides aligned with Turkish legislation — specializing in Labor Law No. 4857, SSI Law No. 5510, Income Tax Law No. 193 and VAT Law No. 3065.
Editorial process: primary source verification (Official Gazette, GİB, SSI) → calculation testing → 6-month or regulation-triggered refresh.