Product Description
This package is aimed at financing the needs of SMEs and non-SMEs for the payment of severance pay to employees due to retirement within the framework of Law No. 7438 of March 03, 2023.
Resource for Guarantee
Treasury Fund
Related Financial Institutions / Corporations
Denizbank, Garanti, Halkbank, Türkiye İş Bankası, Vakıfbank, Vakıf Katılım Bankası, Ziraat Bankası, Ziraat Katılım Bankası
Product Maturity
Maximum 36 months maturity (including the grace period)-Maximum 6 months grace period
Guarantee Cap Rate and Guarantee Rates
1.Working Capital Loan / Usury
- Cash Loans
- Installment Loan
- Other approaches suitable for Participation Banking
Fee and Commission Rates
- The KGF shall collect, in return for each guarantee it gives, a one-time commission corresponding to 0.5% of the respective guarantee amount from the beneficiaries through the lenders. In the event of debt restructuring, a commission amounting to 0.5% of the balance amount of the guarantee shall be collected in advance from the beneficiaries through creditors.
- In retun for each loan disbursed, creditors may collect a commission amounting to a maximum of 1% of the loan amount from the beneficiaries.
Special Conditions
- Loans to be used under this package will only be made available for the severance pay of employees who will retire pursuant to Law No. 7438. Loans allocated under this package cannot be used for any other purposes.
- he severance pay for those who will retire pursuant to Law No. 7438 will be deposited directly into the bank account of the respective employee.
