The monthly maximum contractual interest rate to be applied in credit card transactions (excluding cash withdrawal or usage transactions) has been increased from 3.66% to 4.25%.
The Central Bank of the Republic of Turkiye (CBRT) made a change in the calculation method of the credit card monthly maximum contractual interest rate.
It was decided that the rate in question would be determined by adding 114 basis points to the monthly reference rate instead of 55 basis points.
According to the new method, the calculated monthly maximum contractual interest rate increased from 3.66% to 4.25%.
Source: AA / Prepared by Irem Yildiz
