Spot Loans (YTL)
Spot loans are lent to borrowers in consideration of market conditions to meet short and middle-term financing needs.
- At maturity, the loan principal is repaid together with the interest. (single repayment)
- The interest rate and maturity are determined by the market conditions at the time of the loan disbursement and will not change throughout the duration of the loan.In this way, spot loans provide protection against maturity and interest rate risks and help the company regulate cash flows.
Spot Loans with the Option of Early Closing.
- These spot loans can be closed partially or totally before maturity. On the date of closing, the principal, interest rate and deductions are collected all together.
Revolving Loans (YTL)
Revolving loans have no specific maturity, interests are collected periodically (quarterly and at the end of each relevant period). They are lent to finance short-term working capital.
- Rate of interest is set in accordance with developments in money markets.
- Ideal for companies that need short-term financing or buy goods by advance payment.
- The chance to turn collaterals into cash or close the loan partially or totally by cash payments minimizes the interest burden.
Discount /Re-purchase Loans
Discount loans are cash loans enabling the payment of the balance after legal deductions, commission and the interest rate (accrued during the period of time until the date of maturity) are deduced from the value of a promissory note before maturity.
In other words, discount loans involve the process of selling discounted promissory notes to the bank through transfer (assignment) and delivery.
- These loans provide flexibility in satisfying short-term cash needs for companies which have a busy cash flow cycle and whose portfolio of promissory notes and checks has a high volume.
Foreign Currency-Indexed Loans
These loans apply an interest rate ranging by the foreign currency exchange rate in consideration of the appreciation of foreign currencies against the Turkish lira. Companies can borrow these loans without needing any foreign currency undertaking. They are closed at maturity by repaying principal, interest rate (including changes in the foreign currency exchange rate) and taxes.
- No export undertaking is required.
- For foreign currency-indexed loans, fixed or revolving interest can be applied by the request of the customer depending on market conditions.
Cash Management Loans
These loans do not necessitate cash outflows, are short-termed and can be extended at zero interest rate.
- They are lent in exchange of stopped checks, cleared checks or for payments such as SSK (social security), tax, electricity, water, etc.
Overdraft Account
An Overdraft Account can sustain a negative and a positive balance. When the balance is negative, the account is automatically provided with a loan in the context of a pre-determined credit limit.
- A checkbook can be used linked to the overdraft account.
- Cash can be withdrawn by using ATM cards or over the counter at DenizBank branches.
- Through previously scheduled instructions, regular or irregular payments such as electricity, water, telephone, mobile phone, cable TV bills, rent payments, school fees, cooperative payments, donations to foundation/associations can be collected automatically from this account.
- Every transaction conducted through the Overdraft Account is recorded on an Account Summary and sent to customers by post and/or fax.