Every person needs a bank loan at certain times in life. The credits used are sometimes very high and sometimes very low. However, it would be best to adjust to income to attract credit. While people have been demanding loans based on their monthly income, some different models have been adopted by the government. This application will be restricted on the use of credit according to the income of the people. They will attract credit, attention! credits will now be limited by revenue.
Low Credit to Low Income
The government has expanded its austerity policy on the latest use of credit while changing some practices for savings. Now, the amount of your income will be very important before you make a loan request. In particular, consumer loans will be determined by income level. An employee with a low income will not be able to use the required amount of consumer loans. The government put its final attitude on this issue and pressed the button to adjust the loan according to income. Citizens were warned about income-related credit restrictions.
The amount that a person with a high income will draw while using credit is more than the others. For this reason, unnecessary loan usage will be shelved thanks to this adjustment.
Restriction on Unnecessary Credit Usage
Due to the recent increase in the economy, the government announced that it will save on banking. Banks will adjust the income, housing and vehicle loans according to their income. During the citizens’ identity applications, the total loan amount is determined by taking into consideration the income levels. This restriction will be for saving purposes only. Credits will be adjusted according to the lowest limit.
The application, which has been implemented since 2014, is stated to be 4 times the salary of an employee as a loan lower limit. Withdrawals are applied to individuals according to their salaries, but credit usage is now based on income
The First Restriction Will Be Introduced To Consumer Loans
According to the income to be applied by law, the loan will be valid in general purpose loans. Firstly, the monthly salary of citizens who want to use credit will be checked. The number of terms will be determined according to the amount of the loan they want to withdraw. Monthly payments should be made without exceeding the income.
The government will make use of the loan according to income in consumer loan section. After general purpose loans, restrictions will be applied on vehicle and housing loans. However, this new application brought by the government will come into force in 2020.
New Application About Credit Usage
The coefficient of the monthly salary is determined by calculating the monthly loans. Thanks to the loan utilization that will be adjusted in parallel with the salary, the issue that the economy will be a little more relaxed has come up. While the cash banks that people need at certain times are met, they will now be treated more cautiously and carefully. Now, not everyone will be able to withdraw the amount they want, this ratio will be adjusted according to the income.
Thanks to the restricted use of credit, people will feel comfortable paying. Until the end of 2018, technical studies will continue at an accelerated rate. Until the end of next year, there will be a restriction in loan usage. With the new application to be implemented, loan usage will be restricted and those who need real loans will be able to use loans according to their income.
Record Increase in the Number of People Following the Bank
People gradually increase their use of credit they cannot pay and become an inexorable situation. There will be restrictions on the use of credit due to the number of people pursuing and due to savings. The government will provide the necessary information to the citizen. Due to the loans, foreclosures have been initiated for millions of people.
While the loans remaining in the bank follow-up were collected from individuals or guarantors in some way, such an application was deemed appropriate for new loan uses. Emphasis is placed on the possibility of decreasing debt in bank followers thanks to credit utilization.