What are the conditions of the marriage loan? Is there an age limit? 150 thousand liras with 2 years of grace…

Family and Youth, which is a public legal entity attached to the Ministry of Treasury and Finance
The law on the establishment of the fund was published and entered into force. Under the fund, interest-free loans worth 150,000 lira can be granted to young newlyweds.

The Family and Youth Fund, which came into force and was published in the Official Gazette with the signature of President Recep Tayyip Erdoğan; Its objective is to support and strengthen the family institution, protect young people against social risks and create a resource to support their development and initiatives. The board of directors of the fund will be made up of a total of 5 people, chaired by the Vice Minister of Treasury and Finance, the Vice Minister of Family and Social Services, the Vice Minister of Youth and Sports, the Vice Minister of Energy and Natural Resources and the Vice Minister of Minister of Industry and Technology. Council decisions will be made by majority vote. The vice ministers will be appointed by the corresponding ministers. The Board of Directors, which will administer the Fund, will be authorized to determine the projects to which resources from the Fund will be transferred, the amount of resources to be transferred and the spending programs.

LOAN OF 150 THOUSAND TL FOR YOUNG NEWLY MARRIED WITHOUT REFUND FOR 2 YEARS

Under the law, it is planned to grant interest-free loans worth 150,000 lira to young newlyweds. The loan will be granted with a grace period of the first 2 years and amortization within 4 years.

The Fund’s loan amount, for which applications will be made online, will increase each year. The application will start in the provinces affected by the February 6 earthquakes as a pilot region and will then expand throughout Turkey. (DHA)

WHAT IS A MARRIAGE LOAN, WHAT ARE THE CONDITIONS?

President Erdogan talked about marriage loans in his recent statement;

“We have completed our projects aimed at financially supporting young people getting married and building their marriages on stronger foundations. In the next period we will submit the bill on the Family and Youth Bank to the discretion of our Parliament. We will transfer part of the state revenues from natural gas, oil and mines here. First, we will implement pilot projects for families and youth and then scale them up. We will offer interest-free loans to newlywed couples. “We will launch this application of the Family and Youth Bank as a pilot project in the earthquake zone.”

WILL THERE BE AN AGE LIMIT?

The existence of an age limit for a marriage loan will be determined by the regulations to be issued by the President, but recent statements have been that the age limit will be between 18 and 27 years.

Speaking about the Family and Youth Bank project, announced by President Recep Tayyip Erdoğan and which will be created to provide marriage loans to young people, Minister Göktaş said: “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. It is at the discretion of Parliament, but we will implement it as soon as possible. We have created all the criteria, the infrastructure is ready. Like between 18 and 27 years old, but all this will be discussed in Parliament. There is an income criterion, there is an age criterion. Like not being involved in certain crimes and living in a seismic zone. Anyone who meets these criteria will be able to benefit from it. We will provide support with a grace period of 4 years and zero interest. So we need to issue regulations. The reason we started from the pilot area is to support our youth in the earthquake zone. Be a moral motivation to get there. The ball is in Parliament, we have completed all our work. “We hope it will be implemented before the new year,” he said.