Instalment
What you pay each month. In an equal-instalment (annuity) plan it stays the same for the whole term; the last one may differ by a few kuruş of rounding.
PAYMENT SCHEDULE
How to read a payment schedule
The table your bank hands you shows, row by row, where each instalment goes. Here are the columns and where the numbers come from; your own schedule is in the Bankacı app.
The columns
Principal
The part of the instalment that reduces the debt. Small in the first months, large in the last; the column adds up to the loan amount.
Interest
That month's interest: outstanding principal × monthly contractual rate. As the principal falls, so does the interest.
KKDF and BSMV
Two levies taken as a share of the interest: 15% + 15% on personal and car loans, only 5% BSMV on business loans, none on housing. They go to the state, not the bank, and sit inside the instalment.
Balance
What is still owed after the instalment. Closing the loan today means paying this principal, plus the interest accrued to that day and any compensation.
Why is interest high at first?
Interest runs each month on what is still owed. At the start the whole loan is outstanding, so the interest share is large and the principal share small; with a fixed instalment the balance shifts toward principal as the months pass. That is why paying off early does not refund interest already paid, but does spare the interest still to come.
The taxed rate
The instalment is computed not at the contractual rate but at the taxed one: contractual × (1 + KKDF + BSMV). A 3% monthly rate on a personal loan is a 3.90% taxed rate. Compare offers on the same tax footing; the fairest measure is the annual cost rate.
Early payoff and part payments
You may pay the outstanding principal off in full or in part before the term ends. No compensation is charged on personal and car loans; on housing loans it is capped by statute (1% when the remaining term is up to 36 months, 2% beyond). After a part payment the instalment or the term is rebuilt.
Other plan types
Equal instalments are not the only plan: equal principal, balloon payments, a grace period, increasing or decreasing instalments. Bankers compare them for the same loan side by side in the Bankacı app; you can ask your banker for one.
From the glossary
The full definitions of the terms in the table are in Bankacı's loan glossary.
Annuity (equal instalments) ↗Amortisation table ↗Contractual rate ↗Effective (taxed) rate ↗KKDF ↗BSMV ↗Early-payment compensation ↗Annual cost rate ↗
FOR BANKERS
Are you a banker?
Run the same loan through seven plan types in the Bankacı app: equal principal, balloon, grace period, increasing and decreasing instalments, prepaid interest. Send the schedule to your customer as a PDF and see the legal limits beside the amount.
Frequently asked questions
Is total interest the sum of the interest column?
Yes. The interest column adds up to the total interest, the KKDF and BSMV columns to the total taxes, and the instalments to those two plus the principal.
Why might the table differ from the bank's by a few kuruş?
Banks round in a different order and may add broken-period interest for the days to the first instalment. The difference is at the kuruş level; the shape of the plan is the same.
Are fees in the table?
No. Arrangement fees, insurance and appraisal costs sit outside the instalment; ask for them separately in the offer.