BUSİNESS Economy

ING Bank Turkey offers low-interest loans for SMEs, consumers affected by pandemic

ING Bank Turkey unveiled four loan packages Monday to financially support small and medium enterprises (SMEs) as well as consumers reeling from the coronavirus pandemic.

“Operating with the aim of providing easy and effortless service to its customers and maintaining a responsible banking approach, the ING Bank Turkey has prepared four credit packages to help SMEs, consumers and the country’s economy during the normalization process following the COVID-19 pandemic,” the bank said in a statement.

According to the bank’s credit plans, SMEs will be eligible for mortgage-backed business credits and vehicle loans at interest rates as low as 0.85% monthly with an installment plan up to 48 months.

In addition to the SME support package, the bank offers consumer credit for individuals at a minimum 0.79% interest rate monthly with an up to 60-month settlement plan. Costumers will be able to secure the credits online without having to visit the bank, the statement said.

The bank also announced a collaboration with the country’s major furniture and home appliances manufacturers, including Arçelik, Beko, Modalife, Istikbal, Bellona, Mondi and Vestel.

ING will offer flexible installment plans with no additional costs to consumers purchasing goods worth between TL 40,000-750,000 ($6,000-$110,000) from the partnering brands.

ING also unveiled a vehicle loan for consumers purchasing both new and secondhand cars, offering a monthly interest rate as low as 0.82%.

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