29 December 2017
Press Release on the Maximum Interest Rates for Credit Cards in Q1 2018
The maximum interest rates that banks can charge on credit card borrowing in the first quarter of 2018 have been left unchanged.
Banks in Turkey, as is the case in other countries, charge higher interest rates for credit card borrowing than they do for consumer loans. The CBRT, therefore, advises credit card holders with short-term credit needs to seek a consumer loan rather than borrowing on personal credit cards.
For further information, you may send an e-mail to Basin@tcmb.gov.tr