The Central Bank of Turkey (CBT) maximizes the InterestRate decision of those applying to credit card transactions published in the Official Gazette.
Consequently, the monthly maximum contractual interest rate to be applied in Turkish credit card transactions will be 2.15 percent.
The maximum monthly contractual rate applied to credit card transactions in foreign currency is set at 1.72 percent.
The maximum monthly interest rate on credit cards denominated in Turkish currency would be 2.65 percent, while the maximum monthly interest rate on credit card transactions in foreign currency was 2.22 percent.
The rates came into effect on April 1st.