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Turkish banking regulator changes phone loan maturities, card payment limit

Photo: Ekonomim

The banking regulator BDDK set the maturity for mobile phone loans at 12 months for devices costing 40,000 lira or less and 3 months for more expensive devices. It raised to 100,000 lira the limit up to which the 20% minimum payment rate applies on credit cards.

For refurbished phones, the price threshold for the maturity distinction will be 50,000 lira. For credit cards with limits exceeding 100,000 lira, the minimum payment will be 40% of the period's debt.

Turkish banking regulator changes phone loan maturities, card payment limit

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