Changes to Interest Rates Applied in the Restructuring of Credit Card Debts
The Circular on Amendments to the Circular on Maximum Interest Rates Applicable to Credit Card Transactions (2020/16) (2025/16), published in the Official Gazette on 12 July 2025 (the ‘Communication’) has introduced significant changes to the interest rates applicable to the restructuring of credit card debts.
Under the Circular, the interest rates to be applied to restructured credit card debts as of 12 July 2025 have been determined as follows:
- The monthly contractual interest rate to be applied under the restructuring shall be a maximum of 3.11%, provided that it does not exceed the reference rate announced by the Central Bank of the Republic of Turkey.
- The maximum monthly default interest rate has been set at 5.30%.
The Circular clearly stipulates that these rates may be updated in line with the reference rate announced each month by the Central Bank of the Republic of Turkey.
This change directly affects interest calculations related to the restructuring of credit card debts and constitutes an important regulation that must be taken into account in the business and transaction processes of banks, financial institutions and all relevant parties.