Interest-free home, workplace, and vehicle purchase opportunities in 81 provinces! Here are 10 questions about Emlak Katılım savings financing
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Established as a subsidiary of Emlak Katılım , one of Turkey 's well-established public banks, Emlak Katılım became the first public bank in Turkey to participate in the savings finance sector.
Minister Kurum announced the details of the new period in which Emlak Katılım guarantee will be implemented for interest-free home, office and vehicle purchases in 81 provinces at the program held in Istanbul .
Murat Kurum, Minister of Environment, Urbanization and Climate Change (ahaber.com.tr)
INTEREST-FREE FINANCING SUPPORT
With a state-guaranteed, interest-free financing system, Emlak Katılım Savings Financing will support citizens with alternative payment plans, allowing families to create payment plans tailored to their budgets and acquire not only homes but also vehicles and businesses. Participants can save in installments tailored to their budgets, and once they reach a certain amount of savings, Emlak Katılım Savings Financing will cover the remaining financing interest-free, allowing them to own a home, vehicle, or roofed business. Under the system, owners can acquire homes, vehicles, or roofed businesses in all 81 provinces of Türkiye without incurring any interest or using a loan.
The Minister shared the frequently asked questions and answers regarding the system to be implemented by Emlak Katılım Savings Financing on his social media account.
10 FAQs and Answers
The questions and answers in Minister Kurum's post are as follows:
1-What is the Real Estate Participation Savings Financing system?
In this system, where participants come together and save money in installments that fit their budgets under the guarantee of Emlak Katılım, and after a certain amount of savings, the remaining financing is covered interest-free, allowing you to own a house, vehicle or a roofed workplace.
Citizens will be able to own a home without paying interest (AA)
2-How does the system work?
The financing amount and budget-friendly monthly installment amount are determined. Participants join the system by simply paying a participation fee, also known as an organization fee. Upon completion, participants will own a home, vehicle, or roofed business without taking out a loan or paying interest.
3-How can I own a house, a roofed workplace or a vehicle with Emlak Katılım Savings Financing?
The "Customer-Based Savings Financing Model" offers an interest-free financing solution where the customer determines the delivery date of their home, vehicle, or roofed workplace. With the "Rated Savings Financing Model," participants save through predetermined installments and receive their money through regular monthly drawings held in the presence of a notary.
4-What is the difference from a bank loan?
This model doesn't apply to interest or interest-bearing interest. Payment options are available in installments based on the principal amount for the purchase of a home, vehicle, or roofed business. With both down payment and no-down payment options, participants can become homeowners just like paying rent.
5-Is it possible to benefit from the program in all 81 provinces of Türkiye? How can I apply?
Yes, anyone who wishes can join the system from all Emlak Katılım branches.
6-Does the system also cover second-hand cars?
Opportunity to own a new or second-hand car is provided.
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