Early Loan Payoff Calculator
Enter your loan’s amount, rate, term and the payments made. The payoff amount today, any early repayment fee and what you save against the remaining payments are worked out.
- Remaining principal98,585.40 ₺
- Early repayment fee0.00 ₺
- Remaining payments in total163,830.01 ₺
- You save by closing65,244.61 ₺
KKDF rate: GİB / Cumhurbaşkanı Kararı
BSMV rate: GİB / Cumhurbaşkanı Kararı
Early repayment fee caps: Ticaret Bakanlığı (6502 s.K.)
How it is calculated
Under Law 6502 you can repay a consumer loan early, in part or in full, at any time, and the bank must drop the remaining interest and the taxes on it. On fixed-rate mortgages the bank may charge an early repayment fee; on variable-rate mortgages it may not.
Kapatma tutarı = Kalan anapara + Tazminat; Kazanç = Kalan taksitler − Kapatma tutarıThe remaining principal is the balance after the last payment made. A fee applies only to fixed-rate mortgages: at most 1% with 36 months or less left, 2% if more.- Read the remaining principal after your last payment from the schedule.
- Add the fee by loan type: consumer loans and variable-rate mortgages have none.
- Subtract the payoff from the remaining payments: the difference is the interest and tax you no longer pay.
Example
After 12 payments on a ₺120,000 personal loan at 3.49% a month over 36 months (KKDF and BSMV at 15% each) the remaining principal is ₺98,585.40. The 24 payments left add up to ₺163,830.01, so closing today saves ₺65,244.61; consumer loans carry no fee.
Frequently asked questions
Is there a penalty for closing a personal loan early?
No. Consumer loans such as personal and car loans carry no early repayment fee; the bank must drop the remaining interest and its taxes.
How much is the early repayment fee on a mortgage?
On a fixed-rate mortgage, if the contract says so: at most 1% of the principal repaid early with 36 months or less left, at most 2% if more. The fee cannot exceed the interest rebate. Variable-rate loans carry no fee.
What happens if I repay part of the loan early?
The payment first covers the interest accrued to that day; the rest reduces the principal. The number and dates of payments stay the same and the payment is recalculated. A part payment must be at least one payment’s amount.