Yes, you can finance an electric or hybrid car without interest in Turkey, and the rules favour one kind of car over every other. Every participation bank (katılım bankası) sells vehicles on a murabaha basis: the bank buys the car and resells it to you at a fixed markup paid in instalments, and the regulator's caps decide how much of the price it may finance. For a battery-electric car built in Turkey, which in practice means a Togg, the BDDK allows 70% financing up to a 2,500,000 TL invoice value over 48 months. For an imported EV, and for every hybrid including mild and plug-in hybrids, the standard table applies: 70% only up to 400,000 TL, then 50%, 30% and 20%, with nothing above 2,000,000 TL. Only Emlak Katılım prints a discount for electric and hybrid buyers, and only Kuveyt Türk runs a dedicated Togg programme.
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Electric and hybrid cars are now more than half of what Turkey buys
According to the ODMD press release of 2 October 2026, Turkey sold 627,977 passenger cars in January to September 2026, down 15.45% on a year earlier. Hybrids took 204,956 units (32.6%) and electric cars 121,079 (19.3%), so together they were 51.9% of every car sold, a point Anadolu Agency highlighted when the data came out.
| Powertrain (passenger cars) | Jan-Sep 2026 units | Share | Change vs Jan-Sep 2025 |
|---|---|---|---|
| Petrol | 258,453 | 41.2% | -23.5% |
| Hybrid (all types) | 204,956 | 32.6% | -0.8% |
| of which mild hybrid | 159,023 | 25.3% | +30.4% |
| of which full hybrid | 42,405 | 6.8% | -14.2% |
| of which plug-in hybrid | 3,528 | 0.6% | -90.0% |
| Electric (all types) | 121,079 | 19.3% | -9.5% |
| Diesel | 34,520 | 5.5% | -40.7% |
Two details matter for financing. Most hybrid growth is in mild hybrids, which are taxed and financed exactly like petrol cars; the badge changes neither the cap table nor, in most cases, the ÖTV row. And plug-in hybrids fell 90%, so the segment where a hybrid attracts a lower tax rate has almost left the showrooms.
The two BDDK cap tables: domestic EVs versus everything else
Participation banks do not set their own loan-to-value or maturity limits on car financing; the Banking Regulation and Supervision Agency does, and the same limits bind finance companies. The standard table comes from BDDK Board Decision 10099 of 21 February 2022 and is the one printed on the vehicle pages of Kuveyt Türk, Albaraka Türk, Emlak Katılım and Türkiye Finans. We explain its history in the BDDK caps explainer. The bands are set on the final invoice value for new cars and on kasko (insurance) value for used cars, and both the financing ratio and the maximum term step down as the car gets more expensive.
| Final invoice or kasko value | Maximum financing | Maximum term | Applies to |
|---|---|---|---|
| Up to 400,000 TL | 70% | 48 months | All cars: petrol, diesel, hybrid, imported EV |
| 400,001 to 800,000 TL | 50% | 36 months | All cars |
| 800,001 to 1,200,000 TL | 30% | 24 months | All cars |
| 1,200,001 to 2,000,000 TL | 20% | 12 months | All cars |
| Above 2,000,000 TL | 0% | No financing | All cars |
On 6 March 2025 the Board added a second table. BDDK Decision 11158 applies only to vehicles powered solely by an electric motor and produced by manufacturers within the scope of Provisional Article 12 of the Corporate Tax Law, the incentive clause written for Turkey's domestic car project. In practice that means Togg. For those cars the bands are widened by a factor of roughly six.
| Final invoice or kasko value | Maximum financing | Maximum term | Applies to |
|---|---|---|---|
| Up to 2,500,000 TL | 70% | 48 months | Domestic battery EVs only |
| 2,500,001 to 5,000,000 TL | 50% | 36 months | Domestic battery EVs only |
| 5,000,001 to 6,500,000 TL | 30% | 24 months | Domestic battery EVs only |
| 6,500,001 to 7,500,000 TL | 20% | 12 months | Domestic battery EVs only |
| Above 7,500,000 TL | 0% | No financing | Domestic battery EVs only |
The consequence is stark. The cheapest Togg, the T10X V1 RWD Standard Range, is listed on Togg's price list at 1,909,048 TL including ÖTV, KDV, MTV, plates and registration (prices valid from 15 June 2026 and still current in October). Under the domestic EV table a participation bank may finance 70% of that, 1,336,334 TL, over 48 months. An imported electric car with the same invoice sits in the 1,200,001 to 2,000,000 TL band of the standard table: 20% financing, 381,810 TL, repaid in 12 months, with 1,527,238 TL down. A hybrid at 1,200,000 TL gets 30% over 24 months, so 360,000 TL of financing and 840,000 TL in cash.
What the participation banks actually publish for EVs and hybrids
We checked the vehicle financing pages of the participation banks in our registry on 20 October 2026. Two have something specific to say about electric or hybrid cars; the rest finance them on the same quoted-not-printed terms as any other car. For the general ranking see the best halal car financing in Turkey.
Emlak Katılım: a printed 2-point discount for electric and hybrid buyers
Emlak Katılım is the only participation bank with a product built for this segment. Its Çevreci Araç Finansmanı page states that customers financing an electric or hybrid car receive a 2-point reduction off the bank's standard monthly vehicle profit rate. Two caveats from the page itself: the base rate is not printed, so the discounted rate still has to be obtained as a written quote at a branch (there is no digital application), and the printed cap table ends with a 2,500,000 TL row where the BDDK standard table and every peer print 2,000,000 TL, so confirm which figure the bank applies. The page does not say whether mild hybrids qualify; ask before relying on it.
Kuveyt Türk: the only dedicated Togg programme, with a September 2026 campaign that has now ended
Kuveyt Türk runs a Togg Finansmanı product that prints the domestic EV cap table in full, finances new and used Toggs (used up to 10 years old, with 48 months for cars aged 0 to 5 and 36 months for cars aged 6 to 10) and charges a 0.5% arrangement fee collected upfront. Its Kuveyt Türk and Togg campaign page shows what a bank-and-manufacturer deal looks like. For 1 to 30 September 2026 it offered 0% profit over 10 or 12 months on 600,000 TL to 900,000 TL for T10X and T10F V2 versions, and 3.12% monthly over 36 months or 2.95% monthly over 48 months on 1,700,000 TL across the range, each with a 0.50% commission. Those rates applied only if the customer also took credit life, BES, kasko, traffic insurance and the Sağlam Kart from the bank, and the campaign is marked as expired.
Vakıf Katılım, Ziraat Katılım, Türkiye Finans, Albaraka Türk, Dünya Katılım
Vakıf Katılım has no EV product but is the only big participation bank that prints a full vehicle rate table, which makes it the natural benchmark for any EV or hybrid quote: at our August 2026 crawl its 100,000 TL example showed 3.50% monthly at 12 months, 3.45% at 24 months and 3.40% at 36 and 48 months, with a 500 TL arrangement fee. Ziraat Katılım, Türkiye Finans, Albaraka Türk and Dünya Katılım quote rather than print, as the table shows. None of these pages mention electric or hybrid cars, and none print the domestic EV table, so a Togg buyer at these banks should ask explicitly which table the bank will apply.
| Bank | EV or hybrid specific? | Printed rate? | Used car age limit | Fee disclosed |
|---|---|---|---|---|
| Emlak Katılım | Yes: 2 points off monthly rate for EVs and hybrids | No, base rate quoted | Not printed | Not printed |
| Kuveyt Türk | Yes: Togg Finansmanı with domestic EV cap table, periodic campaigns | Campaign only (Sept 2026: 0% to 3.12%) | 10 years | 0.5% of financing, upfront |
| Vakıf Katılım | No | Yes: 3.40% to 3.50% monthly at August 2026 crawl | 10 years | 500 TL flat |
| Ziraat Katılım | No | No | 5 years | Not printed |
| Türkiye Finans | No | No, varies with insurance bundling | Not printed | Not printed |
| Albaraka Türk | No | Campaign floor 3.19% (summer 2026) | 10 years | Not printed |
| Dünya Katılım | No | No, non-binding calculator | Not printed | Collected upfront |
Is a 0% murabaha halal, and what about the bundling conditions?
A zero-profit campaign from a participation bank looks like the dealer's 0% credit we examined in dealer financing versus murabaha, but the contract is different. In murabaha the bank buys the car and sells it to you; the markup is the bank's trading profit and can lawfully be any figure, including zero, if the bank sells at cost because the manufacturer or its own marketing budget is subsidising the deal. The Diyanet's Religious Affairs High Board sets out the conditions in its fatwa on participation bank profit: the invoice should be issued to the bank, or the bank must at least give the customer a written agency (vekâlet) to buy in its name, and the contract must record that the bank sold the car to the customer. A 0% markup does not disturb any of that. What would is a structure where the bank lends you the price and the dealer discounts the car, which is a loan, not a sale.
Buna göre bir malı peşin olarak satın alma imkânı bulamayan bir kimsenin, herhangi bir katılım bankasına giderek, söz konusu malı satın alıp kendisine taksitle satmasını talep etmesinde; katılım bankasının da müşterinin istediği malı peşin satın alarak üzerine kâr payı da ekleyip vadeli olarak müşteriye satmasında dinen bir sakınca yoktur. (Diyanet İşleri Başkanlığı, Din İşleri Yüksek Kurulu)
The bundling conditions deserve a separate look. Kuveyt Türk's campaign rates were conditional on five products. Credit life from a participation insurer is legitimate and often sensible, as our guide to credit life at participation banks explains; participation kasko is near-mandatory anyway and our kasko comparison shows the market. A BES contract is a long-term savings commitment that should be judged on its own merits, and the Sağlam Kart raises the questions in our participation credit cards guide. None of this makes the murabaha impermissible, but a rate available only if you buy four other products is not the rate on the car. Ask for the unbundled rate and compare it against Vakıf Katılım's printed table.
ÖTV and MTV: why the car you finance costs what it costs
Because the BDDK bands are set on the final invoice, Turkey's tax design decides which band your car lands in. The special consumption tax (ÖTV) is a percentage of the car's pre-tax price (the matrah), added before 20% KDV. The Revenue Administration's (II) list dated 31 July 2026 gives the current rates, set by Presidential Decree 10115 of 24 July 2025. The same list records that Law 7590, published on 31 July 2026, introduced a minimum ÖTV of 100,000 TL per passenger car, to be revalued each year, so a cheap small EV whose percentage ÖTV would fall below that now pays the minimum.
| Car type | Condition | ÖTV rate (matrah not above threshold / above) |
|---|---|---|
| Battery electric | Motor up to 160 kW, threshold 1,650,000 TL | 25% / 55% |
| Battery electric | Motor above 160 kW, threshold 1,650,000 TL | 65% / 75% |
| Plug-in hybrid | CO2 below 25 g/km, electric range at least 70 km, engine up to 1,600 cc, threshold 1,350,000 TL | 45% / 75% |
| Hybrid (not plug-in) | Engine 1,601 to 1,800 cc with electric motor above 50 kW, threshold 1,250,000 TL | 70% / 80% |
| Hybrid (not plug-in) | Engine 2,001 to 2,500 cc with electric motor above 100 kW, threshold 1,650,000 TL | 150% / 170% |
| Petrol or diesel | Engine 1,601 to 2,000 cc, threshold 1,650,000 TL | 150% / 170% |
The rows explain the market. A battery EV with a motor of 160 kW or less and a matrah of 1,650,000 TL or less pays 25% ÖTV; a petrol car with a 1.6 to 2.0 litre engine pays 150%. Mild hybrids with small electric motors miss the 50 kW or 100 kW thresholds in the hybrid rows and are taxed on the petrol rows. On annual tax, the Revenue Administration's 2026 MTV guide states that cars powered solely by an electric motor pay 25% of the amount in the tariff row their motor power maps to; hybrids get no MTV concession.
Worked example: a Togg T10X and a hybrid, financed the halal way
The figures below use the murabaha instalment formula on the profit rate alone. Turkish banks add KKDF and BSMV to the profit portion of each instalment, so the bank's own schedule will be higher: Togg's financing page, as reported by Ekonomist in October 2026, gives 78,008 TL a month for 1,700,000 TL over 48 months at 2.95%, against the 66,663 TL our profit-only formula produces. Treat our numbers as the floor and the bank's schedule as the price. For the formula and the contract see murabaha explained and the halal car financing process guide.
| Scenario | Car price | Cap table and band | Financing | Term and monthly profit rate | Instalment (profit only) | Total profit (profit only) |
|---|---|---|---|---|---|---|
| Togg T10X V1 Standard Range | 1,909,048 TL | Domestic EV, 70% | 1,336,334 TL | 48 months at 2.95% (Kuveyt Türk Sept 2026 campaign rate) | 52,402 TL | 1,178,968 TL |
| Togg T10X V1 Standard Range | 1,909,048 TL | Domestic EV, 70% | 1,336,334 TL | 48 months at 3.40% (Vakıf Katılım printed 48-month rate) | 56,859 TL | 1,392,911 TL |
| Imported EV, same price | 1,909,048 TL | Standard, 20% | 381,810 TL | 12 months at 3.50% (Vakıf Katılım printed 12-month rate) | 39,511 TL | 92,324 TL |
| C-segment hybrid | 1,200,000 TL | Standard, 30% | 360,000 TL | 24 months at 3.45% (Vakıf Katılım printed 24-month rate) | 22,301 TL | 175,216 TL |
| Same hybrid at Emlak Katılım | 1,200,000 TL | Standard, 30% | 360,000 TL | 24 months at an illustrative 1.45% (2 points below 3.45%) | 17,868 TL | 68,844 TL |
Three lessons fall out of the table. The domestic EV table lets a buyer finance almost 1,000,000 TL more than an imported EV at the same price, but the markup on four years of a 1,336,334 TL murabaha at 2026 profit rates is itself over 1,000,000 TL before taxes, exactly the 60% to 70% annualised cost our financing rate transparency piece warned about. And the 2-point Emlak Katılım discount, if it applies to your car, cuts the profit on the hybrid example by more than half, which is why a hybrid buyer's first call should be to that bank and the second to Vakıf Katılım for a printed number to compare against. The 1.45% is illustrative only; Emlak Katılım's base rate is not published.
A buyer's checklist
- Establish which cap table your car falls under: domestic battery-electric (Decision 11158) or standard (Decision 10099). Hybrids of every kind are standard; for a used car the bands run on kasko value.
- Get the proforma invoice with matrah, ÖTV rate and ÖTV amount shown separately, and check the motor power in kW against the 160 kW ÖTV line.
- For a hybrid or EV, call Emlak Katılım first for the 2-point discount and ask whether your specific car (including mild hybrids) qualifies.
- For a Togg, ask Kuveyt Türk for the current campaign and for the unbundled rate without credit life, BES, kasko, traffic insurance and the Sağlam Kart.
- Benchmark every quote against Vakıf Katılım's printed table and ask each bank for its annualised cost rate including KKDF and BSMV.
- Make sure the contract documents the bank's purchase and resale of the car, as the Diyanet fatwa requires.
Our view
The halal answer and the financial answer point in different directions. On the religious question there is no difficulty: a participation bank murabaha on an electric or hybrid car is the same contract as on any other car, and a manufacturer-subsidised 0% markup is a sale at cost, not a disguised loan. On the financial question, the regulator has made the domestic EV the only car most families can finance in any meaningful proportion. If you are buying a Togg, take a Kuveyt Türk campaign for the shortest term you can afford: 0% over 12 months is a genuinely cheap sale, while 2.95% over 48 months on 1,700,000 TL adds more than the car's ÖTV in profit. If you are buying a hybrid or an imported EV, the caps mean you are mostly paying cash anyway; take Emlak Katılım's discount if your car qualifies, keep the term short, and do not let bundled products set the rate. Facts checked against bddk.org.tr, gib.gov.tr, odmd.org.tr, emlakkatilim.com.tr, kuveytturk.com.tr, togg.com.tr and kurul.diyanet.gov.tr on 20 October 2026.
Frequently asked questions
Can I finance an electric car without interest in Turkey?
Yes. Every participation bank finances cars on a murabaha basis, buying the car and reselling it to you at a fixed markup in instalments, and electric cars are eligible like any other. The amount you can finance is set by BDDK caps: 70% up to 2,500,000 TL over 48 months for a domestically built battery EV such as Togg, or the standard table (70% only up to 400,000 TL) for an imported EV.
What financing options are available for hybrid vehicles in Turkey?
Hybrids, including mild and plug-in hybrids, are financed under the standard BDDK table: 70% up to 400,000 TL (48 months), 50% to 800,000 TL (36 months), 30% to 1,200,000 TL (24 months), 20% to 2,000,000 TL (12 months), nothing above. Among participation banks only Emlak Katılım prints a hybrid-specific term, a 2-point discount off its monthly profit rate under its Çevreci Araç Finansmanı, with applications at branches.
Does Togg have halal financing?
Yes. Kuveyt Türk runs a dedicated Togg Finansmanı programme that applies the wider domestic EV cap table (70% to 2,500,000 TL over 48 months), finances new and used Toggs up to 10 years old, and charges a 0.5% arrangement fee. Its September 2026 campaign offered 0% profit over 10 to 12 months on 600,000 TL to 900,000 TL and 2.95% monthly over 48 months on 1,700,000 TL, conditional on bundled products; that campaign has ended and new ones appear periodically.
Is 0% financing from a participation bank halal?
Yes, provided the contract is a genuine murabaha: the bank buys the car (invoice to the bank, or a written agency to buy in its name) and sells it to you, as the Diyanet's fatwa on participation bank profit requires. A zero markup is a sale at cost, which is permissible. The caution is commercial rather than religious: campaign rates are often conditional on taking insurance, BES and a card from the bank, so ask for the unbundled rate too.
What is the ÖTV on electric cars in Turkey in 2026?
According to the Revenue Administration's (II) list dated 31 July 2026, a battery-electric car with a motor of up to 160 kW pays 25% ÖTV if its pre-tax price is 1,650,000 TL or less, and 55% above that; cars over 160 kW pay 65% or 75%. From 31 July 2026 a minimum ÖTV of 100,000 TL applies to passenger cars under Law 7590. Electric cars also pay MTV at 25% of the tariff row their motor power maps to.
How much deposit do I need for a halal car financing in Turkey?
The BDDK caps fix the minimum cash share. For a Togg (domestic EV) up to 2,500,000 TL you need at least 30% in cash. For any hybrid or imported car the standard table applies: 30% cash up to 400,000 TL, 50% to 800,000 TL, 70% to 1,200,000 TL and 80% to 2,000,000 TL; above 2,000,000 TL no bank or finance company may finance the car at all.
Sources
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See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
- BDDK, Board Decision 11158 on financing limits for domestically produced electric vehicles (6 March 2025)
- BDDK, Board Decision 10099 on vehicle loan maturity and loan-to-value limits (21 February 2022)
- ODMD, press release on the January-September 2026 automotive market (2 October 2026)
- Anadolu Agency, Electric and hybrid cars made up more than half of cars sold in January-September (October 2026)
- Gelir İdaresi Başkanlığı, ÖTV (II) sayılı liste (31 July 2026)
- Gelir İdaresi Başkanlığı, Motorlu Taşıtlar Vergisi 2026 rehberi (January 2026)
- Emlak Katılım, Taşıt Finansmanı and Çevreci Araç Finansmanı product page (read 20 October 2026)
- Kuveyt Türk, TOGG Finansmanı product page (read 20 October 2026)
- Kuveyt Türk, Kuveyt Türk ve TOGG İş Birliği campaign (1-30 September 2026)
- Togg, T10X price list (prices valid from 15 June 2026, read 20 October 2026)
- Ekonomist, Ekim 2026 Togg fiyat listesi belli oldu (October 2026)
- Diyanet İşleri Başkanlığı, Din İşleri Yüksek Kurulu, Katılım bankalarından alınan kâr payının dini hükmü nedir?
