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Installment Overdraft Deposit Account

The Installment Overdraft Deposit Account is a loan product identified to your overdraft deposit account, which you can utilize for your immediate needs for cash through our Mobile and Internet Banking channels, 444 88 88 Telephone Banking channel or our branches. You can utilize loans under the installment overdraft deposit account instantly and free of charge with maturity term of options up to 12 months and cover your needs without having to wait.

  • Features of Installment Overdraft Deposit Account
  • Frequently Asked Questions
  • Your installment overdraft deposit account limit is equal to 80% of your overdraft deposit account.
  • You can utilize loans under the installment overdraft deposit account in any amount that is not less than TRY 100 and more than TRY 5,000 through our Mobile and Internet Banking channels.
  • You can repay such loans in maturity terms not shorter than 3 months and not longer than 12 months.
  • You can utilize loans for multiple times subject to your available installment overdraft limit.
  • You will not be charged any additional fee or commission for your utilization of loans under the installment overdraft deposit account.
  • The amount of the loan utilize will be transferred to the drawing deposit account, to which your overdraft deposit account of utilization is linked. You can withdraw your loan in cash from our ATMs or branches, or use the same for your expenses, which you pay with your debit card.
  • Repayment installment amounts will be collected from the drawing deposit account, to which your overdraft deposit account of utilization is linked, on the cutoff dates of the overdraft deposit account. In the event there is not sufficient balance in the drawing deposit account; the repayment installment amounts will be covered out of the overdraft deposit account limit.
  • Your installment overdraft deposit account repayment schedule is set, using the interest rate applicable at the time of utilization. Such rate remains unchanged throughout the maturity term. Repayment schedules are available through:
  • Fibabanka Mobile and Internet Banking > Profile > Documents and Transactions > Loans > My Loans.
  • You can pay off any loan you may utilize under your installment overdraft deposit account immaturely or cancel your utilization. Any interest is not charged on the settlement amount in the cases of cancellation within the same day. You can pay off any loan you may utilize under your installment overdraft deposit account or have your utilization canceled through our Mobile and Internet Banking channels, 444 88 88 Telephone Banking channel or our branches.
  • Click here to view the monthly interest rate applicable for the installment overdraft deposit account.

Exemplary Repayment Schedule:

If the amount of the loan is TRY and the loan is utilized to be repaid in 4 installments;

SEQUENCE NOINSTALLMENT DUE DATEINSTALLMENT AMOUNTPRINCIPAL AMOUNTINSTEREST *RUSF   **BITT ***PRINCIPAL AMOUNT BALANCE
013/06/220.000.000.000.000.00400.00
130/06/22104.7499.644.080.610.41300.36
225/02/22104.7497.755.590.840.56202.61
325/03/22104.74100.173.650.550.37102.44
425/04/22104.74102.441.840.280.180.00
TOTALTRY 418.96TRY 400.00TRY 15.16TRY 2.28 TRY 1.52 

 

* Created on the basis of the monthly interest rate of 1.80%.

** RUSF rate: 15%

*** BITT rate: 10%

How to apply for an installment overdraft account?

You can apply through the Fibabanka Mobile Banking channel by following the steps Transactions > Loans > Overdraft Account Application or Transactions > Applications > Overdraft Account Application or from the Fibabanka Internet Banking channel by following the steps Products > Loans > Overdraft account Application or Products > Overdraft Account > Overdraft Account Application.

How are the installment due dates set?

If there is less than 10 days between the installment overdraft account usage date and the account statement issue date, the first installment due date is set as the statement issue date of the subsequent month.

Date setting example

Overdraft Account Statement Issue Date: 10/11/2021

Installment Overdraft Account Usage Date: 03/11/2021

First Installment Due Date of Installment Overdraft Account: 10/12/2021

How is the installment payment made?

Your current TL account on which the installment overdraft account is defined will be automatically debited on the due date. If the amount in your TL current account is not sufficient, your installment will be covered from your overdraft account limit and you will have to pay the entire amount by the due date of the statement by reflecting on the overdraft account statement of the relevant month.

Can I pay earlier than the installment date?

You can make your early installment payments through our Mobile and Internet Banking channels, 444 88 88 Telephone Banking and our branches.

Can I use installment overdraft account without my overdraft account?

You cannot use installment overdraft account without an overdraft account. Installment overdraft account allows you to use max. 80% of your overdraft account available limit in installments. If you do not have an overdraft account, you can easily open an overdraft account by following the steps below:

From the Fibabanka Mobile Banking channel, by following the steps Transactions > Loans > Overdraft Account Application or Transactions > Applications > Overdraft Account Application or

You can apply through the Fibabanka Internet Banking channel by following the steps: Products > Loans > Overdraft account Application or Products > Overdraft Account > Overdraft Account Application.

You can also apply from our 444 88 88 Telephone Banking and branches.