The Central Bank of the Republic of Turkiye announced that there will be no changes in credit card maximum interest rates and member workplace maximum commission rates in December.
In the announcement made by the Central Bank of the Republic of Turkiye (CBRT) regarding credit card interest rates, the following was noted;
There will be no change in credit card maximum interest rates and member merchant maximum commission rates in December. The reference rate used in calculating the maximum interest rates to be applied in credit card transactions and the maximum commission rates to be applied to member businesses is calculated and announced using the method determined within the scope of the Communiqué on the Procedures and Principles Concerning the Fees That Can Be Collected from Commercial Customers by Banks.
The reference rate is calculated by taking into account the lower of the weighted average current interest rate applied by banks to Turkish lira deposits with a maturity of 32-45 days and ten percent more than the policy interest rate, and is announced on the fifth business day from the last of each month. The reference rate is updated if it changes by more than five percent, either up or down, from the last announced rate.
It is calculated that the reference rate to be announced for December will remain constant according to the weighted average current interest rate applied by banks to Turkish lira deposits with a maturity of 32-45 days used in the reference rate calculation.
According to this; There will be no change in credit card maximum interest rates and member merchant commission rates until the end of the year. The reference rate for December will be announced on 24 November 2023, the fifth last business day of the month.
Source: Trthaber / Prepared by Irem Yildiz