News from Garanti Bank
Garanti Bank launches "Summa cum laude" loan for teachers
8.12.2009 – Garanti Bank launches “Summa cum laude” general purpose loan, dedicated to teachers from any education system. This new product offers the following special conditions: interest rate cut back by 1.2%, valid for the entire contract period, granting fee reduced by half and the option to choose a 4-month grace period (July, August, September, October) each year of the first 4 years of the loan.
„We developed this product in order to support the teachers who wish to access a general purpose loan, taking into consideration the specific activities carried out by this customer segment. Thus, during the summer holiday, between July – October, teachers may forget about paying the installments. Through “Summa cum laude” loan we offer teachers up to 16 months grace period within the first 4 years, during which they won’t have to pay anything, no interest rate or fee.”, Okan Yurtsever, Retail Banking & Bancassurance Director, stated.
“Summa cum laude” loan is a general purpose loan without collaterals available in RON, EUR, USD and CHF. The maximum amount is EUR 30,000 or equivalent, with granting period of up to 10 years. The interest rate is 8.07% for EUR loans (APR 14.13% calculated for an amount of EUR 15,000 over 10 years).