Interest-free credit is not just the name given to financing allocated in accordance with Islamic principles, consumers will realize that if they do some research, they can use credit without paying interest. In this context, banks that give interest-free loans to consumers look for some conditions and want the procedures to be followed.
Due to some confusion, below are mentioned both banks that offer interest-free loans in accordance with Islamic principles and private banks that offer interest-free loans without concern for religion.
Good Credit Interest-Free Loan
Good Credit Participation Bank is among the banks that provide financing with the Cost-plus financing method in accordance with Islamic principles. In this context, Good Credit, which does not allocate interest from consumers, cannot credit any purchase and sale transactions, because two sales must take place in accordance with Cost-plus financing method. For this reason, the financing provided by Good Credit Participation Bank is not shared as cash capital and proforma invoices are often required.
A proforma invoice is not specifically requested for consumers who want to use interest-free consumer loans only and İhtiyaç Card is issued. İhtiyaç Card can be considered as a credit card for all kinds of halal shopping. Expenditures made with this card are extracted at the end of the next month and can be made up to 46 months. Consumers who want to obtain a İhtiyaç Card should submit an application with an income certificate, residence document, and identity card, just as they apply for a consumer loan.
Good Finance Zero Interest Entrepreneur Loan
Good Finance, which is currently offered to entrepreneurs who manage their own business or who want to start a business and create employment, can meet their needs with a 5-year maturity and a repayment amount in the amount of money. With this financing that only SMEs, entrepreneurs and those who want to start their own business can benefit, it is possible to use interest-free loans up to 100 thousand USD and some procedures must be passed.
Good Finance has also announced that it will give interest-free loans to retirees, but there is no step yet. Since the loan in question will be allocated with the support of the state, the bill must first pass through the Parliament and the draft is not yet submitted to the parliament.
It is possible for consumers who will accumulate for marriage to get interest-free loans from almost all banks. This is actually state-funded financing and it is necessary to accumulate for a while.
It is necessary to pay the dowry account opened every 3 months for 3 years, and the money paid will accumulate in this account. At the end of 3 years, 20% of the state money is added to the account, and state support can be used along with the money collected.
Taking Interest-Free Car Loans
In addition to the financing offered by the Participation Banks in accordance with Islamic principles, there is another method that consumers who want not to pay dividends can apply while purchasing vehicles. This is usually to request credit from internationally known auto companies.
As is known, most automakers have established their own financing company, and in this context, they can offer interest-free loans to the consumers who request, provided that they purchase one of their own cars. To benefit from the interest-free car loan, all you need to do is to contact an authorized auto dealer and send an application.