Banking Regulation and Supervision Board (BDDK) announced a new loan installment regulation for mobile phone purchases.
As reported on TRT Haber For consumer loans extended for the purchase of mobile phones, the maturity limit for mobile phones priced at or below 20 thousand liras was determined as 12 months, and the maturity limit for mobile phones priced above 20 thousand liras was determined as 3 months. In the statement, it was stated that the maturity limit for mobile phones, which are “refurbished products”, is 12 months for those whose price is 25 thousand lira and below, and it is determined as 3 months for those whose price is above 25 thousand lira. Previously, new/second hand (not a refurbished product) Credit card installments cannot be made for mobile phones, but if the mobile phone is a refurbished product, installments can be made for 12 months without any amount limit. In terms of consumer loans, currently there is a 12-month maturity for mobile phone purchases with a price of 12 thousand liras and below, and a 3-month maturity for mobile phones with a price of over 12 thousand liras. In the new application, there is no distinction between renewed products in terms of consumer loans.”