2.3 Regulations and Other Actions Regarding
the Financial System

2.3.1 Maximum Interest Rates for Credit Cards

The CBRT sets maximum credit card interest rates in accordance with the Communiqué No. 2020/16 on Maximum Interest Rates Applicable to Credit Card Transactions. In this context, taking into account funding costs and loan rates formed in the market, the maximum interest rates for credit cards were revised downwards in line with the policy rate in 2025.

Accordingly, these rates were revised with amendments introduced on July 25, September 18 and December 13, 2025 to be effective as of the first day of the succeeding month. The maximum contractual interest rate was reduced

• from 3.5% to 3.25% for personal credit cards with a term debt of less than TRY 25,000
• from 4.25% to 3.75% for personal credit cards with a term debt between TRY 25,000 and TRY 150,000,
• from 4.75% to 4.25% for personal credit cards with a term debt exceeding TRY 150,000 and corporate credit cards regardless of the term debt,
• from 5% to 4.25% for cash withdrawals or transactions made via credit cards and for overdraft accounts.

In addition, the maximum interest rates for term debt limits denominated in TRY were raised, and the limit of TRY 25,000 was set as TRY 30,000 and the limit of TRY 150,000 was replaced with TRY 180,000 to be effective as of January 1, 2026.

On the other hand, as per the Decision of the Banking Regulation and Supervision Agency (BRSA) No. 11240 of July 10, 2025, if personal credit card debts are subject to restructuring, the monthly contractual interest rate to be applied is capped at the monthly reference rate (3.11%), and the maximum monthly default interest rate applicable to such transactions may not exceed the highest overdue interest rate determined under Article 5 of Communiqué No. 2020/16.

Table 2.3.1.1. Maximum Interest Rates Applied on Credit Card Transactions for January-December 2025 Period (%)

2.3.2 Regulation on Fees

2.3.2.1 Regulations Regarding Fees Chargeable to Commercial Clients

The Communiqué No. 2020/4 on Procedures and Principles Regarding the Fees that Banks Can Charge Commercial Clients determines the fees that banks can charge their commercial clients for products and services they offer. The purpose of the Communiqué is to enhance predictability and transparency in transactions between banks and their commercial clients, to ensure consistency of concepts and terminology, and to prevent excessive pricing.

With the amendment introduced to the Implementation Guidelines of the Communiqué No. 2020/4, the formula for calculating the maximum early repayment fee for fixed-rate foreign currency or foreign currency-indexed loans disbursed on or after January 6, 2025, was revised. In this context, the fixed rate of 2% for the foreign currency early closure fee was increased to 3%, and the weighted average maturity multiplier of 15% was changed as 10%.

Under the communique published in the Official Gazette on September 18, 2025, the maximum merchant fee charged by banks to commercial customers was reduced to 1.04% for debit cards, and the maximum hold period has been reduced to 15 days. The same regulation set the maximum loan disbursement fee at 1.1% for all types of cash loans, and the maximum loan origination fee at 0.20%. These changes took effect as of November 1, 2025.

Additionally, in 2025, the CBRT responded to approximately 863 applications regarding the fees chargeable to commercial clients under the Communiqué No. 2020/4.

2.3.2.2 Fees Chargeable to Financial Consumers

The Communiqué No.2020/7 on Procedures and Principles Regarding the Fees to be Charged to Financial Consumers published in the Official Gazette No. 31061 of March 7, 2020 regulates the fees chargeable to financial consumers for products and services offered. The purpose of the Communiqué is to determine the procedures and principles governing any kind of fees, commissions and expenses (other than interest and profit share) chargeable to financial consumers for the products and services offered by institutions.

In 2025, the CBRT responded to approximately 7,700 applications received through various channels regarding the fees chargeable to financial consumers under the Communiqué No. 2020/7.

2.3.3 Regulations on the Terms of Deposit and Participation Funds

The Communiqué on Deposit and Loan Interest Rates and Profit and Loss Sharing Ratios for Participation Accounts (No. 2020/3) regulates the principles and conditions regarding the interest rates that banks will apply for lending and deposit acceptance, as well as the profit and loss sharing ratios they will apply in participation accounts.

The amendment published in the Official Gazette dated June 21, 2025, under Communiqué No. 2020/3, allows variable-rate Turkish Lira deposit accounts—which previously could only be opened with a minimum term of 3 months—to be opened for terms longer than 1 month. Additionally, under the scope of this Communiqué, the CBRT responded to approximately 911 applications received through various channels regarding deposit and loan interest rates in 2025.