Home Equity Loan

Home Equity Loan from Alternatif Bank for your large cash needs!

  • Easy Application
  • Favourable Payment Options
  • Quick Approval Process

What Is A Home Equity Loan?

Home Equity Loan is a type of loan which enables our home-owner customers to provide their houses as collateral for their cash needs.

How To Apply For A Home Equity Loan?

You can complete your Alternatif Bank Home Equity Loan application in 4 simple steps.

  • 1

    Apply for a loan.

  • 2

    Learn your credit decision.

  • 3

    Decide on the borrowing plan that best suits you.

  • 4

    Your loan will be deposited to your account right away.

Home Equity Loan Features

Take out your loan with affordable repayment options without pushing your budget!

Maturity

You can borrow your loan with term options starting from 3 months up to 60 months. 

Tax and Funds

When you take out a mortgage for your or a relative’s house, your loan shall be subject to Housing Finance Law. Therefore, you need to pay 15% RUSF, yet you are exempt from 5% BITT.  

Insurance   

Your Life Insurance, DASK (Compulsory Earthquake Insurance) and Home Insurance policies will be initiated by your branch simultaneously with your loan. Life Insurance may vary depending on age, gender and amount of loan; Home Insurance and DASK may vary depending on house area, price and location.

Currency 

 The loan can be borrowed in Turkish Lira only.  

Required Documentation 

 Below you may find the documents required for application: 
  • - Identity Card or TR Identity Card
  • - Certificate of Residence or a Bill Registered in the Name
  • - Real Estate for Mortgage
  • - Income Certificate


1. Payroll or income letter for salaried employees 

Current payroll, SSI service document or SSI registration number, employer registration number, net monthly pay and income letter including earnings attachment/deduction document and authorised signatory list.

2. For pensioners:

Pensioner ID Card or Monthly Pension Allowance Document/Pension Passbook

3. For self-employed :

The company’s current tax sheet and annual income tax return/current business account statement

4. For partnerships:

The company’s current tax sheet and annual corporate tax return

5. For rental income earners::

The title deed of rental property, rental contract or document of rental collection

  • Title deed of the mortgaged home




Frequently Asked Questions About Home Equity Loan

Here you may find frequently asked questions about Home Equity Loan.

Who can apply for Home Equity Loan?

All customers residing in Turkey over 18 years of age with regular income and who can pledge their home as collateral against cash are eligible to apply for a Home Equity Loan.

Which documents do I need for my application?

In order to be eligible to apply for a Home Equity Loan, you need to have a regular income and a house which you can provide as collateral. Documents required for application include identity card or TR Identity Card, certificate of residence or a copy of bill registered in your name, title deed of the house which you will provide as collateral and income certificate. Below you may find the documents which will be required depending on your income status:

1. Payroll or income letter for salaried employees

Current payroll, SSI service document or SSI registration number, employer registration number, net monthly pay and income letter including earnings attachment/deduction document and authorised signatory list.

2. For pensioners:

Pensioner ID Card or Monthly Pension Allowance Document/Pension Passbook

3. For sole proprietorships:

The company’s current tax sheet and annual income tax return/current business account statement

4. For partnerships:

The company’s current tax sheet and annual corporate tax return 5. For rental income earners: The title deed of rental property, rental contract or document of rental collection

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There is an Alternatif Bank loan for every need!

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Take out a loan now for all your cash needs, start paying 3 months later!

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