When you review the loan products of the banks, you will notice that the first installment time in the payment plan is one month after the loan usage date. However, another type of loan was issued recently for consumers who do not have the financial position to start paying installments immediately.
Thanks to this type of financing, which is called postponed loan, it has the advantage of attracting credit for consumers who cannot start paying the installments immediately. You can review the 3-month and 6-month postponement issues related to postponed credit, how this loan was obtained and the details from our article.
The banking product, which has the feature that financial institutions issuing loans to initiate the first installment payment after 3 or 6 months as of the date of the related loan, is called Deferred Credit . Consumers who can benefit from this loan start to pay their loan debts after 3 or 6 months.
Moreover, the banks that do not use deferred loans do not have an extra requirement from consumers. Because the consumer applies for the type of loan, the bank only wants the necessary documents for the use of that type of credit. All individuals who are not on the black list and who have a high credit rating, can use deferred credit.
What is Postponed Credit?
Postponed Loan is the change in the maturity of the loan product, which is specified as the first installment payment, by shifting it to a time later than the due date.
It is a financing that consumers should prefer, especially if they cannot deposit the first installment on the payment day one month after the loan is withdrawn. With the postponed loan, you can change the first installment date of your debt until 3 months or 6 months.
What is 3 Month Postponed Loan?
Under normal conditions, the type of credit that is used by the consumers who want to spend the first months of the credit they have taken without payment is called a 3-month deferred loan. Banks change the payment date of the first installment up to 3 months upon the request of the customer and ensure that the first months after the loan usage date are graceless.
What makes the customer advantageous in this type of credit is the deferred loan characteristics of all types of loans, including housing, vehicle and consumer loans. In addition, there are banks that offer the possibility of shifting with convenient interest rates as well as ease of payment.
In fact, some banks offer loans with higher interest rates to those with high ratings by looking at the consumer’s credit rating for a 3-month deferred loan application .
What is 6 Months Postponed Loan?
In line with the needs of the consumer, demanding a grace period for a 6-month period from the bank means using a 6-month deferred loan . It is a type of loan that banks are used according to their campaign models especially in special periods such as holidays, New Year’s Eve and the beginning of summer.
Consumers should pay the most attention when demanding a grace period from the bank interest. Because the interest difference arising from the postponement of the loan in the payment plan, how it will be reflected in the payment plan should be well analyzed.
How to get a postponed loan?
While preparing the payment plan of the loan type you want to use, you can use deferred credit if you also inform that you have requested for the grace period. You can use internet branches, mobile applications or telephone banking to reach this request.
However, if you want to apply to the branch orally, we recommend that you take the documents that the bank will ask you according to the type of credit you want to use. Declaration of these documents to the branch will accelerate the bank’s approval process for your application.
Whichever channel you prefer to get a postponed loan, your application will be evaluated according to your credit score score. If the result of this assessment is not on the black list and your rating is found to be eligible for credit, your application will be forwarded to the bank branch.
For the postponed loan application, the documents you will submit to the branch will be reviewed. If your documents are complete and accurate, your bank will approve your application. This means that you can start paying your current loan in 3 months or 6 months according to your contract.
We can say that your credit rating will be completely determined whether your installment payments will be postponed in the term you specify. There is no deferred credit for consumers who are below the criteria requested by the Bank and customers with low credit ratings.