Orange Limit from ING!

Orange Limit from ING!

In Orange Limit, the limits for your Overdraft Account and credit card can be added to your general purpose loan amount. Upon your request, you can use these limits as a general purpose loan with installments up to 36 months. All of these amounts make up the total of your general purpose loan limit. 

Anytime you need a loan, you can enjoy this limit. Depending on the amount and maturity, you can use the limit as a single loan or partially.    

What is Orange Limit?

  • "Orange Limit" is a collective limit covering your Overdraft Account and Credit Card limits along with a General Purpose Loan limit that has been or shall be set for you upon your application. 
  • The limit defined for a General Purpose Loan that our Bank has set for you or will set upon your request, your Overdraft Account and Credit Card limits make up your Orange Limit, in total. 

Features

Loan Use

  • Your total usable limit applies only on the General Purpose Loans. You can use the Orange Limit repeatedly, as long as you stay in your usable limit.
  • In case the General Purpose Loan amount you need to use exceeds your General Purpose Loan limit, you may use your available Overdraft Account and Credit Card limits, respectively.
  • The available loan limit increases with each installment you pay (depending on the principal amount paid). Your Credit Card, Overdraft Account and General Purpose Loan limits shall be opened for use, respectively.

Re-use

  • If your Overdraft Account and Credit Card limits are used for General Purpose Loan, the rules, terms and conditions and interest rates for General Purpose Loan shall apply, for the amount used.
  • If your Overdraft Account and Credit Card limits are not used, the interest rate and terms of use shall continue to apply, as set forth in the agreement you have signed.

Limit Revision

  • Your Orange Limit is valid for a term that is set by our Bank and this term can be changed. Following the approval, you can update your Orange Limit, if you request. In order to get information on the term of your limit’s validity and on your total and usable limits, please contact our branches, call center or refer to our online or mobile branches 24/7.

Cancellation

  • In order to terminate the Orange Limit use, please send a text message to 2205: KREDIMSONSUZIPTAL space Turkish Republic ID No. This message does not cancel the products covered under Orange Limit (General Purpose Loan, Overdarft Account, Credit Card). By sending this message you will only terminate the loan use process, explained above.

e-Loan Cost Table

Loan Amount Loan Maturity Period (Months) Monthly Interest Rate  Annual Interest Rate Loan Allocation Fee** Monthly Installment Amount
Total Monthly Cost Rate Total Annual Cost Rate
TRY 15.000 60 0.79% 9,48%  TRY 75 TRY
328.86
0.9672% 12.2444%

**Any customer, who has a KKB (Credit Bureau) score of 1850 and above, will benefit from the interest rate of 0.79% for any maturity period in any proposal provided with insurance.  

** Our loan campaign will have a monthly contractual interest rate between 0.79% and 2.59%, and such interest rate will vary depending on the payment performance of our customers. Example For Calculation: In respect of a loan, amounting to TRY 15.000.-, and with a maturity period of 60 months: Interest Rate:0.79%, Total Annual Cost Rate will be 12.2444%. Total Amount Payable including the loan allocation fee, excluding the insurance cost: 19.737.37 ₺   

Loan Amount Loan Maturity Period (Months) Monthly Interest Rate  Annual Interest Rate Loan Allocation Fee** Monthly Installment Amount
Total Monthly Cost Rate Total Annual Cost Rate
TRY 15.000 60 2.59% 31,08%  TRY 75 TRY
554.60
3.1329% 44.8000%

*** Our loan campaign will have a monthly contractual interest rate between 0.89% and 2.59%, and such interest rate will vary depending on the payment performance of our customers. Example For Calculation: In respect of a loan, amounting to TRY 15.000.-, and with a maturity period of 60 months: Interest Rate:2.59%, Total Annual Cost Rate will be 44.8000%. Total Amount Payable including the loan allocation fee, excluding the insurance cost: 33.276.00 ₺  

****The example given above was drawn up by including all taxes and costs for the maturity period and the loan amount. Insurance cost was not included in the Total Monthly Cost Rate and the Total Annual Cost Rate. Loan allocation fee will be 0.5% of the loan amount, and a banking and insurance transactions tax (BITT) of 5% will be charged on the basis of the loan allocation fee.   

*****ING shall be entitled to amend and/or modify the campaign terms and conditions, and to ask for any guarantor and income certificate, if and when so required, and also to reject to approval any loan application that is deemed unfavorable.