Insurance guide for loan users in 8 questions


1- Banks credit Can they require insurance when giving?

With the new regulation, banks will not be able to require insurances such as housing and vehicle related to the loan, especially life insurance, while giving loans. For example, you will use a housing loan from the bank; The bank will not be able to make compulsory life insurance and housing package policy together with the loan. With the new regulation, the consumer has no explicit request in writing or with a permanent data storage. insurance will not be made.

2- Will the bank offer insurance to the consumer during the loan phase?

It will be found. Banks will offer two separate packages to the consumer in terms of insurance while giving loans. One is the package that includes credit-related insurances; The other is the uninsured package. For example, you will get a vehicle loan, the bank will provide both life, insurance, traffic It will offer a credit package that covers its insurances, as well as a credit-only package that does not include insurance. In the proposal to be submitted, the name of the credit-related insurances –such as home insurance, vehicle insurance, life insurance-, the duration and whether the insurance is renewed every year will be written in detail in the offer. With the new regulation, while the bank lends to the consumer; ‘Insured Consumer The ‘Consumer Loan Preference Form’ covering the ‘Credit Agreement Offer’ and ‘Uninsured Consumer Loan Agreement Offer’ will be signed.


3- Can the bank make insurance that is not related to the loan during the loan?

He won’t be able to. Banks will only be able to offer credit-related insurance to the consumer. For example, you have used a housing loan, the bank will be able to offer life and housing insurance to the consumer, but will not be able to offer other insurance products such as personal accident and risky diseases.

4- What will happen if the loan request and transactions are made remotely without going to the branch?

If the loan transaction is made from the bank, the written confirmation of the consumer requesting insurance will be obtained. If the loan transaction is done remotely without going to the branch, this time the approval will be received by phone or message and the bank will keep this approval in the data registers.

5- Can the bank request insurance while giving a loan?


The bank may request insurance related to life and credit. However, the consumer does not have to take out insurance from the bank from which he/she borrows. He can take out the insurance from wherever he wants and give it to the bank. With a clearer explanation; The consumer may give the bank an insurance policy that is compatible with the amount and duration of the loan, which he will take out from another place, including the bank from which the loan is used. The bank will accept the insurance made in this way, and the bank will not be able to demand any other condition other than the amount of the insurance, the duration and the registration of the deceased payee. For example, you will use a vehicle loan, and the bank asked for life insurance, motor insurance and traffic insurance. You can get life insurance from another insurance company, motor insurance from another company, and traffic insurance from another company and submit it to the bank, the bank has to accept all these insurances.


6- Can the bank make more than one insurance while giving a loan?

can’t; Credit-linked insurance must be compatible with the subject of the loan. More than one insurance including the same guarantee for the loan cannot be made or requested. Insurance exceeding the loan amount cannot be made.

7- What will happen if I do not get the insurance from the bank?

The bank has the right to see the consumer as risky and not to give loans, as well as the right to put forward higher interest rates or heavier loan terms.

8- Will there be a difference between the insured loan offer and the uninsured loan offer?

It certainly will. The bank may offer a lower interest rate loan or offer other bonuses if it provides its own insurance when making a loan.