From the Central Bank of the Republic of Turkey:

COMMUNIQUÉ ON MAXIMUM INTEREST RATES TO BE APPLIED IN CREDIT CARD TRANSACTIONS (NUMBER: 2020/16)

Purpose

ARTICLE 1 – (1) The purpose of this Communiqué is to regulate the procedures and principles regarding the determination of the maximum contractual and default interest rates to be applied in credit card transactions.

Scope

ARTICLE 2 – (1) Banks and other institutions authorized to issue credit cards are subject to the provisions of this Communiqué.

Legal Basis

ARTICLE 3 – (1) This Communiqué has been prepared based on the third paragraph of Article 26 of the Bank Cards and Credit Cards Law No. 5464 dated 23/2/2006.

Determination of maximum contractual interest rates

ARTICLE 4 – (1) The monthly maximum contractual interest rates to be applied in Turkish lira credit card transactions (excluding cash withdrawal or usage transactions and corporate credit card transactions) shall be determined by adding to the monthly reference rate calculated and announced within the framework of the procedures and principles set out in the Communiqué on Procedures and Principles Regarding Fees to be Charged by Banks from Commercial Customers (Number: 2020/4) published in the Official Gazette dated 10/2/2020 and numbered 31035;

a) 14 for credit cards with a period debt below thirty thousand Turkish liras,

b) 64 for credit cards with a period debt between thirty thousand Turkish liras and one hundred eighty thousand Turkish liras,

c) 114 for credit cards with a period debt above one hundred eighty thousand Turkish liras

basis points.

(2) The monthly maximum contractual interest rate to be applied in Turkish lira corporate credit card transactions (excluding cash withdrawal or usage transactions) shall be determined by adding 114 basis points to the monthly reference rate.

(3) The monthly maximum contractual interest rate to be applied in Turkish lira cash withdrawal or usage transactions made through credit cards shall be determined by adding 114 basis points to the monthly reference rate.

(4) The monthly maximum contractual interest rate to be applied in foreign currency credit card transactions shall be determined by rounding 70 percent of the monthly maximum contractual interest rate to be applied in Turkish lira cash withdrawal or usage transactions made through credit cards to two decimal places.

Determination of maximum default interest rates

ARTICLE 5 – (1) The monthly maximum default interest rates to be applied in Turkish lira credit card transactions shall be determined by adding 30 basis points to the monthly maximum contractual interest rates to be applied in Turkish lira credit card transactions.

(2) The monthly maximum default interest rate to be applied in foreign currency credit card transactions shall be determined by adding 30 basis points to the monthly maximum contractual interest rate to be applied in foreign currency credit card transactions.

Maximum rates to be applied by participation banks

ARTICLE 6 – (1) The monthly contractual profit share rates to be applied by participation banks in credit card transactions cannot exceed the monthly maximum contractual interest rates determined according to Article 4 of this Communiqué, and the monthly default penalty rates cannot exceed the monthly maximum default interest rates determined according to Article 5 of this Communiqué.

Announcement of maximum contractual and default interest rates

ARTICLE 7 – (1) The monthly maximum contractual and default interest rates to be applied in credit card transactions shall be announced on the official website of the Central Bank of the Republic of Turkey on the day the reference rate is announced, and shall be applied as of the first day of the following month, without prejudice to the provisions contained in the Bank Cards and Credit Cards Law.

Repealed Communiqué

ARTICLE 8 – (1) The Communiqué on Maximum Interest Rates to be Applied in Credit Card Transactions (Number: 2016/8) published in the Official Gazette dated 12/11/2016 and numbered 29886 has been repealed.

Transition process

PROVISIONAL ARTICLE 1 – (1) The maximum contractual and default interest rates calculated within the framework of the provisions of this Communiqué based on the reference rate announced by the Central Bank of the Republic of Turkey on 23/10/2020 shall be valid as of 1/11/2020. Until the date on which the said rates will begin to be applied, the rates determined in the Communiqué on Maximum Interest Rates to be Applied in Credit Card Transactions (Number: 2016/8) published in the Official Gazette dated 12/11/2016 and numbered 29886, which was repealed by this Communiqué, shall be applied.

Alignment

PROVISIONAL ARTICLE 2 – (1) The rates calculated within the framework of the amendment made to the first paragraph of Article 4 by the Communiqué introducing this article shall be announced and applied by the Central Bank to be valid between 16/3/2024 and 31/3/2024.

Transition provision

PROVISIONAL ARTICLE 3 – (1) The rates calculated within the framework of the amendment made to the first paragraph of Article 4 by the Communiqué introducing this article shall be announced and applied by the Central Bank to be valid as of 6/4/2024.

Transition period

PROVISIONAL ARTICLE 4 – (1) The rates calculated within the framework of the amendment made to Article 4 by the Communiqué introducing this article shall be announced by the Central Bank on 24/10/2024 and these announced rates shall be applied to be valid as of 1/11/2024. Until the date on which the said rates will begin to be applied, the rates determined in Article 4 that were in force before the publication date of this article shall be applied.

Maximum interest rates to be applied in the restructuring of credit card debts

PROVISIONAL ARTICLE 5 – (1) In the event of restructuring of credit card debts pursuant to Article 1 of the Banking Regulation and Supervision Agency Decision dated 26/9/2024 and numbered 10972, the monthly contractual interest rate to be applied cannot exceed the monthly reference rate calculated and announced within the framework of the procedures and principles set out in the Communiqué on Procedures and Principles Regarding Fees to be Charged by Banks from Commercial Customers (Number: 2020/4). The monthly maximum default interest rate to be applied in the said transactions is the highest default interest rate determined within the scope of Article 5 of this Communiqué. The terms interest rate and default interest rate in this article shall be applied as profit share rate and default penalty rate, respectively, for participation banks.

(2) In accordance with Article 1 of the Banking Regulation and Supervision Agency Decision dated 10/7/2025 and numbered 11240, the monthly contractual interest rate to be applied in the event that credit card debts are restructured cannot exceed the monthly reference rate calculated and announced within the framework of the procedures and principles set out in the Communiqué on Procedures and Principles Regarding Fees That May Be Charged by Banks from Commercial Customers (No: 2020/4). The maximum monthly default interest rate to be applied in the said transactions is the highest default interest rate determined within the scope of Article 5 of this Communiqué. The terms interest rate and default interest rate in this article shall be applied as profit share rate and default penalty rate, respectively, for participation banks.

(3) In accordance with Article 1 of the Banking Regulation and Supervision Agency Decision dated 29/1/2026 and numbered 11366, the monthly contractual interest rate to be applied in the event that credit card debts are restructured cannot exceed the monthly reference rate calculated and announced within the framework of the procedures and principles set out in the Communiqué on Procedures and Principles Regarding Fees That May Be Charged by Banks from Commercial Customers (No: 2020/4). The maximum monthly default interest rate to be applied in the said transactions is the highest default interest rate determined within the scope of Article 5 of this Communiqué. The terms interest rate and default interest rate in this article shall be applied as profit share rate and default penalty rate, respectively, for participation banks.

Transition period

PROVISIONAL ARTICLE 6 - (1) Within the framework of the amendment made to Article 4 by the Communiqué introducing this article, the rates calculated shall be announced by the Central Bank on 25/7/2025 and these announced rates shall be applied as of 1/8/2025. Until the date on which the said rates begin to be applied, the rates set out in Article 4 that were in force before the publication date of this article shall be applied.

Transition process

PROVISIONAL ARTICLE 7 - (1) Within the framework of the amendment made to Article 4 by the Communiqué introducing this article, the rates calculated shall be announced by the Central Bank on 24/9/2025 and these announced rates shall be applied as of 1/10/2025. Until the date on which the said rates begin to be applied, the rates set out in Article 4 that were in force before the publication date of this article shall be applied.

Transition provision

PROVISIONAL ARTICLE 8 – (1) Within the framework of the amendment made to Article 4 by the Communiqué introducing this article, the rates calculated shall be announced by the Central Bank on 25/12/2025 and these announced rates shall be applied as of 1/1/2026. Until the date on which the said rates begin to be applied, the rates set out in Article 4 that were in force before the publication date of this article shall be applied.

Entry into force

ARTICLE 9 – (1) This Communiqué enters into force on its publication date.

Execution

ARTICLE 10 – (1) The provisions of this Communiqué shall be executed by the President of the Central Bank of the Republic of Turkey.

Official Gazette in which the Communiqué was published
Date		Number
	31/10/2020	31290
Official Gazette in which the Communiqués Amending the Communiqué were published
Date		Number
1-	23/6/2023	32230
2-	25/7/2023	32259
3-	16/3/2024	32491
4-	6/4/2024	32512
5-	27/9/2024	32675
6-	12/7/2025	32954
7-	25/7/2025	32966
8-	18/9/2025	33021
9-	13/12/2025	33106
10-	31/1/2026	33154

COMMUNIQUÉS REPEALED REGARDING MAXIMUM INTEREST RATES TO BE APPLIED IN CREDIT CARD TRANSACTIONS

1. Communiqué No. 2006/1

2. Communiqué No. 2014/5

3. Communiqué No. 2016/8