The number of consumers using digital loans is increasing rapidly. The number of queries from online loan comparison platforms has increased by 120% in the last 5 years. Consumers, comparing mostly consumer loans, can find loans that are 10% cheaper.
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ISTANBUL (TR) - Citizens are turning to online benchmarking platforms called fintech as an alternative to traditional banking options for borrowing. Particularly due to the differences in interbank loan interest rates, platforms that can compare the interest rates of all banks at the same time offer a significant cost advantage. According to the analysis Hesapkurdu.com visitors, the number of online loan comparison increased by 120% in the last 5 years, Turkey has reached 1.5 million queries monthly average. The highest increase was in consumer loans with 140%, while housing loans increased by 130% and vehicle loans increased by 50% in online loan comparisons. Since the beginning of 2019, users have made a new record by making more than 8 million credit comparisons. This momentum is expected to further enhance the role of online credit benchmarking platforms in traditional banking activities.
According to the credit calculator, Hesapkurdu.com, users compare the most general purpose loans by 50% and question housing loans by 40%. Following these researches, the demand for digital loans is 80% and consumer loans are the leading ones.
Fluctuations in global markets, monetary policies, inflation and many other factors lead to volatility in loan rates. On the other hand, Onur Tekinturhan, the Founding Partner of Hesapkurdu.com stated that the gap between base and ceiling interest rates has been gradually increasing in addition to loan interest rates. This difference reached 70% in June. To be more precise, a bank that offers lower interest rates can always be found when consumers will take out loans.
Onur Tekinturhan stated that the difference between the loan rates offered by the banks is reflected directly to the consumer and said, uz We see that the amount that consumers have to pay for the same amount varies considerably. For example, a consumer who wants to use a loan of 10 thousand pounds and want to pay back in 60 months, a bank 18 thousand pounds and the other 22,500 pounds can cost. You can choose the most suitable loan for you by making comparisons between banks and you can save up to 22% ”.
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Hesapkurdu.com, founded in 2010, is a free website and mobile application that offers the possibility of comparing and applying loan and insurance products. It helps users easily access the most up-to-date and advantageous products of bank and insurance companies and make the right financial decisions from a single platform. Established by Turkish entrepreneurs, Hesapkurdu.com first received investment from the founding team of MutuiOnline, Italy's leading financial benchmarking platform, and later from the Netherlands-based NN Group, which serves 17 million customers in 18 countries. I Hesapkurdu.co of Turkey between the years 2011-2013 by TOBB 7th fastest growing companies were selected; Deloitte was among the top 50 fastest growing technology companies in Turkey between 2013-2016. In March 2019, one of the company's bhl'n comparison with the world's largest platform (Budget Holdings Limited) online insurance sales company operating in Turkey with my Hesapkurdu.co Koalay.co was united under the same roof. With the merger, 40 banks and insurance companies meet each month on the same infrastructure to serve approximately 4 million users.