What are the conditions of the marriage loan? Is there an age limit?
The bill on the establishment of the Family and Youth Fund was approved in the General Assembly of the Grand National Assembly of Turkey. According to the proposal, interest-free loans worth 150,000 lira will be granted to young newlyweds. It was announced that the Family and Youth Bank will launch a pilot project in the earthquake zone.
WHAT IS A MARRIAGE LOAN, WHAT ARE THE CONDITIONS?
Vice President Cevdet Yılmaz spoke about the “Family and Youth Fund” and housing loans.
“First of all, it will start from the earthquake zone as a pilot application. Then it will spread throughout Türkiye. In particular, it includes a mechanism to support young people with a loan of 150,000 lira over four years, which we call a marriage loan, with a grace period of two years. “In the future, as funding and opportunities increase, there will of course be other supports available, but they will be rolled out gradually.”
Minister of Family and Social Services Mahinur Özdemir Göktaş said the following about the marriage loan:
“We are starting it as a pilot project for the earthquake zone. Then we will expand it. It was the good news our young people were waiting for. We have created all the criteria, the infrastructure is ready. Couples who want to benefit from the project must also benefit from the Family Education Program and the Premarital Education Program. They must also live in a seismic zone and meet income and age criteria. The age criterion is between 18 and 27 years old, but all this will be discussed in Parliament. Young people who meet these criteria will be able to benefit. We have completed all our work, it is Parliament’s turn. “We hope the law will come into effect before the new year.”
– Interest-free loans worth 150,000 lira will be granted to young newlyweds. The loan will have a grace period of the first 2 years and an amortization requirement of 4 years.
– Applications to the fund will be made online and the loan to be granted will increase each year.
– After the earthquake zone, the application will be implemented throughout Türkiye.
– Age limit and income level are expected to be one of the conditions of the loan.