The state-sponsored urban transformation loan was a good news for people living in risky structures. Thanks to the state support of the urban transformation loan, risk-bearing structures will be demolished and healthy buildings will be replaced. In this way, the loss of life and property caused by these structures will be prevented.
In this article, we will talk about what is the housing loan, how this loan can be obtained, the interest support rates made by the government and the use of this loan from different banks. Continue reading our article for detailed information on this subject.
What is Urban Transformation Credit?
Urban transformation loan is the name given to the process of demolishing buildings and structures deemed risky in areas determined by law and building robust buildings instead. The detection of these areas is evidenced by technical documents. In other words, a person cannot decide whether a field is risky or not. Within the scope of this project, which is secured by the state, many banks provide their customers with the opportunity to use loans with appropriate interest rates and maturity opportunities. By using credit through these banks, you can get the help of the state behind you and get rid of old structures and build new ones instead.
So how much is urban transformation loan given?
Interest rates and terms do not vary much from bank to bank. Because these rates and times are determined by the Ministry of Environment and Urbanization. So no matter which bank you prefer, you will pay almost the same interest. Interest support has been determined so as to make a maturity of 4 per cent and a maximum of 120 months for housing support, and a maximum of 84 maturity for the workplace with an annual interest rate of 3 percent.
If you say how can I get an urban transformation loan, the first thing you should pay attention to is whether the structure subject to the loan is located within the specified risky region. Because the structures everywhere do not allow the use of credit.
How is Urban Transformation Credit Calculation?
Citizens who want to use urban transformation housing construction loan will be able to run between 3 and 120 months. They will pay an annual interest rate of 2.50 percent. Since Class A vehicles are encouraged, more support is provided for Class A vehicles. Here, when the state interest rate support is calculated monthly, we see 0.41 percent for class a productivity and 0.37 percent for class b productivity.