The Hesapstan early loan closure penalty calculator is designed to calculate the early closure penalty you may need to pay when closing your loan before its term ends, based on your remaining loan balance and a current rate you enter.
How is the early closure penalty calculated?
The early closure penalty is calculated by applying a rate to the remaining loan balance: Penalty Amount = Remaining Balance × (Rate / 100). This tool also shows the calculated penalty added to the remaining balance, giving the total amount due to close the loan.
Where do I find the rate?
The early closure penalty is subject to a ceiling set by BDDK that varies by loan type and remaining term (for example, different limits may apply depending on whether the remaining term is longer or shorter than a given threshold). This tool does not contain a current or official rate; you must verify it from your bank's current information or the official BDDK regulation and enter it yourself.
What does this tool not calculate?
- It does not contain or assume the current official early closure penalty ceiling; you enter the rate yourself.
- It does not calculate the interest you would save by closing early; use Hesapstan's early repayment savings calculator for that.
- It does not evaluate exceptions where the penalty may not apply for certain loan types under certain conditions.
Frequently Asked Questions
How is the early closure penalty calculated?
The remaining loan balance is multiplied by the rate applied by the bank: Penalty Amount = Remaining Balance × (Rate / 100).
Does this tool know the current BDDK ceiling?
No. The ceiling varies by loan type and remaining term; this tool calculates only using the rate you enter.
How much interest will I save by closing early?
This tool calculates only the penalty. Use Hesapstan's early repayment savings calculator to find the interest you would save.