SAVINGS FINANCE
Savings finance contracts
Savings finance is not a loan: the customer saves first, receives an allocation, then repays the rest. The shape of the calculation follows from that.
Two kinds of contract
In a customer-based contract the allocation date is known from the start. In a draw-based one it is decided by a draw; the calculation treats the two cases separately.
Three asset types
Housing, vehicles and roofed workplaces are calculated separately. The organisation fee is charged on the contract value and is one of the figures that decides the total cost.
Frequently asked
Does savings finance carry interest?
The contract is interest-free; the cost is the organisation fee and any other charges. Bankacı builds the total from those.
How does the allocation date change the sum?
Before allocation the customer only saves; after it, repayment begins. When the allocation falls decides both the total duration and the monthly burden.
See also: Glossary
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