18.09.2025 07:20
Following the Central Bank's decision to lower interest rates, adjustments have been made to credit card interest rates. With the new rates set to take effect on October 1, 2025, the calculation margins for cash withdrawals and overdraft interest rates on credit cards have been reduced. Additionally, the rules for banks regarding lending to commercial customers have changed, and according to the regulation, collateral will be required for all loans that pose a risk, including credit cards.
```html
The communiqué regarding the maximum interest rates to be applied to credit card transactions has been published in the Official Gazette. With the communiqué, the interest rates for cash withdrawals from credit cards and credit deposit accounts have been reduced by 25 basis points. Contractual interest rates have been lowered from 4.75% to 4.5%. The late payment interest has been reduced from 5.05% to 4.80%. The new rates will be effective as of October 1.
CHANGE IN POS COMMISSION RATES
The Central Bank of the Republic of Turkey (CBRT) has made changes to the application of POS commission rates. Within the scope of the change, the 3.56% POS commission rate applied to member merchants for purchases of goods and services made with cards has been separated for credit cards and debit cards.
Accordingly, while the rate applied to credit card transactions remains unchanged, the maximum POS commission rate applied to transactions made with debit cards has been reduced to 1.04%. In cases where the member merchant prefers to work on a blocked basis instead of paying the POS commission, the maximum number of blocked days applied is determined as a maximum of 15 days for debit cards.
The rates determined for debit cards will also apply to prepaid cards and merchant payments from account to account and will come into effect on November 1.
CHANGE IN COMMERCIAL LOAN CONDITIONS OF BANKS
According to the communiqué published in the Official Gazette by the Central Bank, the conditions for banks to provide commercial loans have also changed. The communiqué states:
- Banks classify the credit allocation and loan disbursement processes as two separate sub-items. The credit allocation fee is charged against all credit limits that may create credit risk, including all non-cash credits and commercial credit cards that fall under foreign trade.
- The credit allocation fee cannot exceed 0.20% of the allocated credit limit. In cases where the limit is increased, a new credit allocation fee may be charged on the additional limit. The credit allocation fee cannot be charged as long as the limit allocation or renewal request does not come from the commercial customer. The maximum credit allocation fee is annual and is applied proportionally based on the number of months of the allocated limit duration.
- The loan disbursement fee can only be charged for cash loans and cannot exceed 1.10% of the disbursed loan. In the case of revolving loans, the mentioned maximum rate is applied annually based on the average loan disbursement balance. The loan disbursement fee for revolving loans is accrued at the end of the periods based on the average loan disbursement balance of the relevant period, while for other cash loans, it is accrued at each disbursement moment. For loans with a term shorter than one year, the maximum loan disbursement fee is applied proportionally, taking into account the number of days of the term.
- For non-installment purchases of goods and services made with credit cards, if the transaction amount is transferred to the member merchant's free use the next day, the applicable member merchant fee cannot exceed 0.45 points above the monthly reference rate. The maximum member merchant fee is updated and applied starting from the first day of the month following the announcement date of the reference rate. For purchases of goods and services made with debit cards, if the transaction amount is transferred to the member merchant's free use the next day, the applicable member merchant fee cannot exceed 1.04%.
- In card applications where payment periods are extended by accepting cards designed for targeted customer groups such as the agricultural sector within the framework of special agreements made between banks and member merchants, the periods during which the cardholder's payments are deferred without interest are determined in months and are taken into account as a multiplier in calculating the maximum member merchant fee that can be requested for credit card transactions from the member merchant. The maximum member merchant fee is calculated by multiplying the number of months by the maximum fee applicable for non-installment transactions.
- If the transaction amount is not transferred to the member merchant's free use the next day, the maximum member merchant fee is reduced based on the number of days between the day after the transaction date and the day the transaction amount is transferred to the member merchant's free use. For non-installment transactions made with credit cards, the time until the transaction amount is transferred to the member merchant's free use cannot exceed forty days from the day after the transaction date, while for transactions made with debit cards, it cannot exceed fifteen days.
WHAT IS POS COMMISSION?
POS commission is charged for the costs related to the operation of card systems. Unlike debit cards, credit cards have an additional funding cost due to the credit facility provided to the cardholder. With the new regulation, the commission rate for debit cards has been determined in a way that does not include this funding cost.
The rates determined for debit cards will also apply to prepaid cards and merchant payments from account to account and will come into effect on November 1.
```