LAST MINUTE NEWS: Change in the number of credit card payments

The Banking Regulation and Supervision Agency (BDDK) regulated the number of credit card payments.

As a result, the number of down payments has been reduced from 6 months to 3 months in expenses related to printed jewelry and other than gold.

The deposit on the credit card for the purchase of furniture and appliances has been reduced from 12 months to 9 months.

Payment is 4 months for those with a TV purchase price of 5,000 TL or more. The number of installments for televisions priced up to 5,000 lire has been maintained at nine months.

MATURITY RELEASED ON VEHICLE LOANS

Auto loan maturities have also been reduced.

The loan term for vehicles priced at 120,000 TL or less has been reduced from 60 months to 48 months.

The duration of loans for vehicles between 120,000 and 300,000 TL has been reduced from 48 months to 36 months.

The maturity limit has been reduced from 36 months to 24 months for loans granted for the purpose of purchasing vehicles with a final invoice value exceeding 300,000 TL and not exceeding 750,000 TL.

The maturity limit for loans granted for the purchase of vehicles over 750,000 TL but not more than 1,500,000 TL has been reduced from 24 months to 12 months.

THE AMOUNT OF THE CREDIT ALSO CHANGES

With the decision of the BRSA, the amount of loan to be granted by the banks for the purchase of vehicles was also again determined.

Loans can be used up to half the value of vehicles valued between 120,000 and 300,000 lire.

The amount of the loan of vehicles between 300,000 and 750,000 lire may not exceed 30 per cent of the price.

For vehicles between Lira 750,000 and Lira 1.5 million, a maximum credit of 20 per cent will be granted.

No credit will be given for vehicles valued over TL 1.5 million.

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