TKHK Article 37: When the consumer loan is closed early, the bank may apply penalty as well as deletion of the remaining interest, but it is limited.
Early Closing Fee Limit
- Maturity 1 year and below: 1% of the remaining amount
- Maturity 1 year over: of the remaining amount. 2%
- No more can be requested
Interest Deduction
- In case of early closing, remaining interest is deleted
- Only interest for the usage period is collected
- Calculation: based on amortization plan
Process
- Written early closing request to the bank
- Bank within 15 days notifies the closing amount
- Payment is made
- Closing letter + surety/mortgage cancellation
Special Situation in Housing Loans
- 2% limit is also valid for housing loans
- Deed transaction for mortgage cancellation
Supreme Court 13. HD
13. HD accepts that in cases where the bank demands an early closure fee "above the legal limit", the consumer may request a refund and bad faith interest may also be applied.
Practical Recommendations
- Make calculations before making early closure
- Check the early closure clause in the contract
- Get a closure letter, follow up on mortgage cancellation. contact
Consumer lawyer recommended.