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Loan Calculator

Calculate monthly payments based on loan amount, interest rate and term. Full amortization schedule with KKDF and BSMV.

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KKDF: 15% + BSMV: 10% are automatically included in the calculation.

Disclaimer: This tool is for informational purposes only and does not constitute professional accounting, legal or financial advice. Results are estimates; consult a certified advisor for important decisions. Terms of Service.

How Loan Payments Are Calculated

Loan payments use the annuity (equal installments) method: each month you pay the same amount, but the principal/interest split shifts — interest-heavy early, principal-heavy later.

Formula: Payment = P × [r(1+r)^n] / [(1+r)^n - 1]. Turkish consumer loans add KKDF (15%) + BSMV (10%) on top of interest.

Mortgage vs Personal Loan

Mortgages are exempt from KKDF and BSMV, offer 120-240 month terms and lower rates. Personal loans are faster and unsecured but costlier. For large amounts and long terms, prefer a mortgage.

How to Use This Tool

  1. Enter loan amount, term (months) and monthly rate
  2. Select loan type (personal/mortgage) — tax calculation differs
  3. Review monthly payment, total cost and full amortization schedule

Early Repayment

Paying off early eliminates unaccrued interest. Banks typically charge a 1-2% prepayment fee on the remaining balance — but the interest savings usually outweigh the fee.

Example: 100,000 TL Personal Loan

For a 100,000 TL personal loan over 24 months at 3.09% monthly interest, the monthly payment is about 5,960 TL and the total repayment — including KKDF (15%) and BSMV (10%) — is roughly 143,000 TL. That means about 43,000 TL in interest and taxes. A longer term lowers the monthly payment but sharply raises total cost — a 36-month term can push the total cost above 60,000 TL.

Common Mistakes

  • Looking only at the monthly payment: A low payment looks attractive, but a long term multiplies total interest. Decide based on total repayment.
  • Confusing annual and monthly rates: Banks usually quote a monthly rate. 3% monthly is roughly 36% nominal annual.
  • Forgetting KKDF and BSMV: Personal loans add these taxes on top of interest; mortgages are exempt.
  • Ignoring fees and insurance: Allocation fees and life insurance raise the true cost (the annual cost rate).

Related Guides

Frequently Asked Questions

What are KKDF and BSMV?
KKDF (Resource Utilization Support Fund) at 15% and BSMV (Banking and Insurance Transaction Tax) at 10% are calculated on the interest amount. These taxes are added to consumer loan interest.
What is the monthly interest rate?
The monthly interest rate is the percentage charged by banks per month. You can approximate it by dividing the annual rate by 12.
What does the amortization table show?
The amortization table shows how much principal, interest and KKDF+BSMV you pay each month and the remaining balance. Interest portion is higher in early months, principal portion is higher in later months.
What happens if I pay early?
If you make early payments, interest is calculated on the remaining principal, reducing your total interest cost. Banks may charge an early payment fee.