Banking Regulation and Supervision Agency (BDDK) has updated its vehicle loan policies, with a surprising focus solely on domestic electric vehicles. The new regulations are seen as a support to Turkey’s electric car initiative, Togg. According to the new policy, electric vehicles up to 900,000 TL will be eligible for a 48-month loan with an interest rate of 70% of the sale price. For electric vehicles priced between 900,000 TL and 1.8 million TL, the loan will be 36 months with an interest rate of 50% of the sale price. For electric vehicles priced between 1.8 million TL and 2.2 million TL, the loan will be 24 months with an interest rate of 30% of the sale price. Lastly, for electric vehicles priced between 2.2 million TL and 2.8 million TL, the loan will be 12 months with an interest rate of 20% of the sale price. It is worth noting that there are no loan facilities available for electric vehicles priced above 2.8 million TL. The new policy is only available for domestic electric vehicles, with no statement made for the private bank sector. Previously, it was announced that public banks would offer loans with a 0.99% interest rate for Togg.
“BDDK, Yerli Elektrikli Araçlara Destek Veriyor!”
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