NEWS Finance        29/06/2019

Turkish Central Bank reduces interest rates on credit cards

The Turkish Central bank has reduced the interest rates to be applied to credit card transactions.


The maximum monthly rate to be applied to TL credit card transactions has been reduced from 2.15% to 2%. For foreign currency credit card transactions the maximum rate has been reduced from 1.72% to 1.60%. The monthly late payment interest rate for TL transactions has been reduced from 2.65% to 2.40%, and for foreign currency transactions from 2.22% to 2%.


This decision is applicable from July 1st, 2019.

Turkey’s net minimum wage has been raised 15.04% to TL 2,324.70 (USD 391) as of 01.01.2020       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate increases to 11.84% in December 2019       Turkey’s unemployment rate decreases to 13.4% in October 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy recorded a growth of 0.9% in the third quarter of 2019       Turkey's 12 month current account surplus is USD 2,725 million as of November 2019