Maximum interest rate to be applied to credit cards every month the central bank announced by “reference rate” It is determined by adding 0.55 points. The Central Bank actually previously set the reference interest rate for July. 0.88 had declared. In other words, the maximum interest rate of the credit card in July is percent. 1.36 would continue. However, the situation has changed. Credit card maximum interest rate was increased early.
The rising credit card maximum interest is also valid in July!
Central Bank of the Republic of Türkiye 650 basis points After the interest rate increase, the maximum interest rate on credit cards was increased from 1.36 percent to 1.91 percent. With the Central Bank communiqué published in the Official Gazette, the reference rate was increased from 0.88 to 1.36. Accordingly, with the addition of 0.55 points to 1.36 percent, from July The maximum interest rate to be applied to the credit card is percent. to 1.91 has been upgraded.
In July, the credit card maximum interest rate would continue to be 1.36 percent. However, in August The rate hike was withdrawn to July. In the communiqué published by the Central Bank, it is stipulated that in case of a Central Bank Monetary Policy Committee Meeting, the reference rate will be announced within the framework of the current data on the date of the meeting.
According to the old version The reference interest rate is the rate calculated over the weighted average flow interest rate applied by banks to deposits. 10% of the policy rate It is calculated by taking into account the lower rate than the rate to be found by increasing it. The rate determined in this way is from the end of each month. 5th working day was declared.
A step back for a credit card cash advance from the Central Bank!
The Central Bank took a step back regarding the limitations it imposed on the use of credit card cash advances and overdraft account loans.
With a temporary article added to the communiqué also reference rate It was determined as 1.36 percent between 1-31 July. Accordingly, the maximum interest rate to be applied to credit cards in July will be 1.91 percent with the addition of 0.55 to the reference interest rate of 1.36 percent.
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