Credit card limit and minimum payment amount decision from BRSA

BRSA took many additional decisions, including increasing the credit card limits for citizens affected by the earthquakes affecting 10 provinces in Kahramanmaraş, and postponing the minimum debts and credit terms.

BRSA published the Board decisions it took for residents in the region in order to reduce the negative effects of the earthquake disaster, on its official website.

Accordingly, the distinction between 20 percent and 40 percent minimum amount depending on the limit applied in credit cards has been removed. In this context,the minimum amount was determined as 20 percent of the term debt, without being associated with any limit.

While determining the credit card limit, the limits taken into account by the banks have been increased. With the new regulation, the total card limit by the banks will not exceed 4 times the monthly average net income of the relevant person for the first year, and 8 times for the second and subsequent years.

The issue regarding the use of cash, the closing and cancellation of the credit cards for which the minimum amount has not been paid, the purchase of goods and services, and the issue of not issuing new credit cards until the debt is fully paid were left to the discretion of the banks. Banks were allowed to define grace periods by not demanding their receivables, including the minimum amount, during the postponement of their card debts.


If the monthly or annual average income level cannot be determined, the total limit of credit cards that can be obtained by real persons has been increased from 2 thousand liras to 5 thousand liras.

In case the principal and interest payments of consumer and vehicle loans extended by banks, financial leasing, factoring and financing companies are postponed upon the request of customers, it was decided not to consider the postponement period within the maturity limits determined in the relevant legislation.

The supply of credit rating grades to be obtained from loan customers and additional documents required to be obtained was left to the discretion of the banks.

The deadlines for the valuation of the real estate collateral of the loans extended to customers affected by the earthquake disaster were postponed.


The deadlines for the information and documents required to be submitted to banks by companies subject to independent audit regarding loan disbursement have been extended for companies located in provinces in the earthquake zone.

Upon the request of the customers, it has been decided that the principal and interest payments will be postponed for a minimum of 6 months, and that the customer’s request will not be sought if the postponement is made without demanding interest/profit share.

In addition, it was decided to send instructions to the associations of organizations to take utmost care in compliance with the BRSA legislation and banking principles and practices, not to cause any unjust treatment to customers and to provide all possible conveniences, including additional financing.

These decisions will be valid from 6 February 2023 to 1 January 2024.


Meanwhile, the BRSA, with its decisions at the beginning of the week, paved the way for the banks and financial leasing, factoring and financing companies to determine the maturity of the loans to be made available to residents in the earthquake zone or to be restructured, including the implementation of grace periods. In addition, in the sales of goods and services to be made with credit cards, the installment periods, which were previously differentiated on a product basis with the decision of the board, were increased up to one fold.

With the additional decisions announced today, the duration of the flexibility provided regarding the loan terms and credit card installment limits has been extended to January 1, 2024.

BRSA gave the green light to the profit distribution demands of banks!


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button