In respect of any customer who have utilized a new Consumer Loan as of August 06, 2019; with respect to the Orange Extra Program members, who have fulfilled the condition to have spent TRY 4.500 within a month by making use of the ING Debit Card or the drawing account; the interest rate, to be calculated by multiplication of the principal of the previous month and the difference between "the interest rate indicated in the applicable agreement" and "the advantageous interest rate determined by the Bank", as well as the amount, corresponding to the taxable portion for such interest rate difference, will be refunded in cash to the drawing account, linked to the loan, by the Bank on the due date, as indicated in the repayment schedule, within the following month.
For example; In case the principal amount of the loan is TRY 10.000.-, and the contractual interest rate is 2%, and the Orange Extra advantageous interest rate is 1.70%, then the interest rate difference amount TRY 10.000. * (2%-1.7%) = TRY 30 the RUSF (Resource Utilization Support Fund): TRY 30*15%= TRY 4.5 BITT (Banking and Insurance Transactions Tax): TRY 30*5% = TRY 1.5, the total cash amount payable: TRY 30 + TRY 4.5 + TRY 1.5 = TRY 36.
Loan Amount TRY 20.000 |
Loan Maturity Period (Months) 36 |
Monthly Interest Rate 1.59% |
Annual Interest Rate 19,08% |
Loan Allocation Fee** TRY 100 |
Monthly Installment Amount
TRY
773.11 |
Total Monthly Cost Rate 1.9406% |
Total Annual Cost Rate
25.9407% |
**For Orange Extra customers, the interest rates are reflected by 1.49% with cash refund for those who fulfill the spending conditions of the program for loans up to 5,001- 20,000 TL. Contract interest starts from 1.59%, 20,000 TL 36 months Monthly Cost 1.8805% Annual Cost 25.0520%.
ING reserves the right to terminate the campaign and change the conditions.;
