The Central Bank of the Republic of Turkey (CBRT) stated on Saturday it had revised the maximum rate of interest credit card lenders may cost every month to 1.25% for Turkish lira and 1% for international trade transactions.
The rate of interest the place funds are overdue will probably be a maximum 1.55% for lira fees and 1.30% for transactions in foreign currency.
The revisions will come into impact on April 1, the bank stated on Twitter.
The bank added that the rates will now not be decided for three-month intervals and they are going to be legitimate till they’re modified.
The credit card rates have been final decreased on Dec. 28, 2019.