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GLOSSARY
Loan and deposit glossary
A short, accurate definition of every term on the calculation screens. The definitions are written from the rules the engine runs on; where regulation sets a rate, the one in force today is named with the product it applies to.
- Amortisation table (payment schedule)
- The row-by-row table of every instalment's principal, interest, KKDF and BSMV, and the balance left after it. Bankacı gives every result as this table; it is shared as a summary, and exported as a PDF with Premium. See also: Send the result to the customer →
- Annual cost rate
- The total cost of a loan — interest, taxes and compulsory fees — expressed as a compound annual rate. It is not twelve times the monthly contractual rate, and it is the right measure for comparing two offers. See also: Personal, vehicle and housing loan calculations →
- Annuity (equal instalments)
- A plan where the same amount is paid every month for the whole term. Within each instalment the interest share is high at first and the principal share high at the end. The standard fixed-instalment plan is an annuity; Bankacı computes it with the effective monthly rate. See also: Standard fixed-instalment plan →
- Balloon payment
- A payment larger than the regular instalment, placed on a chosen instalment within the term. Because it brings the principal down early, the instalments between and after it shrink. In Bankacı the amount is entered on individual rows or applied across a range. See also: Custom / balloon plan →
- BDDK
- Turkey's Banking Regulation and Supervision Agency. It sets the maximum term and loan-to-value ratios for consumer credit by Board decision, and banks cannot lend outside them. Bankacı's legal-limit tables come from those decisions. See also: Legal limits on consumer credit in Turkey →
- Board decision
- The numbered, dated decision by which the BDDK puts a limit into force. Every legal-limit table in Bankacı names the decision it rests on and its date; when a limit changes, the table is updated with the new decision. See also: Legal limits on consumer credit in Turkey →
- Broken-period interest
- When the time between drawdown and the first instalment is not a whole month, the day-based interest difference added to, or taken off, the first instalment. Bankacı takes both dates and gives the first instalment with the broken period counted. See also: Personal, vehicle and housing loan calculations →
- BSMV
- The banking and insurance transactions tax charged on loan interest. Today it is 15% of the interest on personal and vehicle loans and 5% on business loans; housing finance is exempt. It is collected with the interest in every instalment, and Bankacı shows it separately inside the instalment. See also: Personal, vehicle and housing loan calculations →
- Cheque and note discounting
- Turning a cheque or promissory note that has not yet matured into cash today, with interest and BSMV for the days to maturity deducted. The deduction is the discount; the remainder is what is paid out. Several instruments are computed each at its own maturity. See also: Cheque and note discounting →
- Contractual interest rate
- The rate written in the loan agreement and used for the interest itself, quoted monthly or annually. Bankacı works with the monthly contractual rate and adds KKDF and BSMV on top. For credit cards and overdrafts the ceiling on the contractual rate is set by the central bank (TCMB). See also: Overdraft and credit card interest →
- Early-payment compensation
- What a bank may charge when a loan is paid off before its term. For housing finance it is capped by statute: 1% of the amount paid when the remaining term is up to 36 months, 2% beyond that. It is not charged on personal and vehicle loans; on business loans it follows the contract. See also: Part payment and payoff →
- Effective rate
- The monthly rate with taxes folded in: contractual rate × (1 + KKDF + BSMV). It is the rate that decides the instalment — a 3% contractual rate with 15% KKDF and 15% BSMV gives an effective 3.90% on a personal loan. Bankacı computes the annuity with it. See also: Personal, vehicle and housing loan calculations →
- Equal principal
- A plan in which every instalment repays the same principal and the interest is charged on the declining balance. The first instalment is the highest and the last the lowest; total interest is below an annuity's because the principal falls faster. See also: Equal-principal plan →
- Grace period
- Opening months in which only the interest (with its taxes) is paid and the principal instalments start later. The principal does not fall during these months, so interest keeps accruing on the full balance and the total cost rises accordingly. See also: Grace-period plan →
- Gross and net interest (deposits)
- Gross interest is all the interest a term deposit earns at the agreed rate; net interest is what reaches the account after withholding tax. Bankacı's deposit calculation shows both. See also: Term deposit calculations →
- Increasing and decreasing instalments
- Plans in which the instalment grows (increasing) or shrinks (decreasing) by a set rate each period. The banker enters the rate; the increasing plan suits a customer whose income will rise, the decreasing plan one who can carry a high instalment today. See also: Increasing-instalment plan →
- KKDF
- The Resource Utilisation Support Fund levy on consumer loan interest — today 15% of the interest on personal and vehicle loans. It does not apply to housing finance or to business loans. It is collected with the interest, inside the instalment. See also: Personal, vehicle and housing loan calculations →
- Loan-to-value ratio (LTV)
- The loan amount as a share of the collateral's value. For vehicles it is measured against the invoice value, for housing against the appraisal and the energy class, and the BDDK caps it; a loan cannot exceed the ratio. Bankacı shows the applicable ratio next to the amount. See also: Legal limits on consumer credit in Turkey →
- Maximum term
- The longest term a consumer loan may legally have. The BDDK sets it by Board decision — by amount band for personal loans, by the invoice value for vehicles. Bankacı shows the limit in force next to the amount entered. See also: Legal limits on consumer credit in Turkey →
- Overdraft account (KMH)
- A credit limit attached to a current account. When the account goes below zero, interest runs only on the amount used and for the days it is used; the rate is capped by the central bank's maximum. It differs from a revolving loan in being a personal account product. See also: Overdraft and credit card interest →
- Part payment and payoff
- Paying part of the principal (a part payment) or all of it (a payoff) before the term ends. The figure is the outstanding balance, the interest accrued to that day and any early-payment compensation; after a part payment the instalment or the term is rebuilt. See also: Part payment and payoff →
- Prepaid interest
- A plan in which the interest is collected in full at drawdown instead of being spread over the instalments. The customer receives the loan amount less the interest; at the same contractual rate the effective cost is higher. See also: Prepaid-interest plan →
- Principal
- The loan amount itself; interest, taxes and fees come on top of it. Interest is charged each month on the principal still outstanding, which falls as instalments are paid. See also: Personal, vehicle and housing loan calculations →
- Refinancing (loan transfer)
- Paying off an existing loan and borrowing the same debt again at a lower rate, usually at another bank. The decision comes from comparing the payoff amount, the early-payment compensation and the fees against the total of the new plan. See also: Mortgage refinancing →
- Request link
- The form link a banker sends a customer to leave a loan request on. Incoming requests are collected in one list in the app with a notification for each; the customer's details open to the banker who takes the request on. See also: Loan request links →
- Revolving loan (BCH)
- A business overdraft line: drawn and repaid at will within a set limit. Interest runs only on the amount used, for the days it is used, and is charged at the period's end together with BSMV. See also: Revolving credit calculation →
- Savings finance
- Interest-free financing of a home, a vehicle or a roofed workplace built on savings and allocation. The contract is customer-based (the allocation date is known) or draw-based; Bankacı builds the payment flow and, if wanted, compares it with a bank loan. See also: Savings finance contracts →
- Spot loan
- A short-term business loan whose principal and interest are paid in one sum at maturity. There are no interim instalments; the interest is computed on the number of days between drawdown and maturity. See also: Spot loan calculation →
- TCMB maximum interest rate
- The monthly ceiling the central bank publishes for contractual and default interest on credit-card debt and overdrafts. Banks cannot charge above it; Bankacı's overdraft and credit-card calculation fills the form with the current maximum. See also: Overdraft and credit card interest →
- Term
- The life of the loan from drawdown to the last instalment, in months. A longer term lowers the instalment and raises the total interest. For consumer credit the upper bound is set by the BDDK's maximum-term decisions. See also: Legal limits on consumer credit in Turkey →
- Withholding tax (deposits)
- Income tax withheld at source from term-deposit interest. The rate is set by regulation according to the term and the currency and changes from time to time; Bankacı applies the rate in force and gives the net return with it deducted. See also: Term deposit calculations →
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