March 28, 2020 / 7:21 AM / 2 months ago

Turkish central bank revises maximum monthly credit card rates for banks

ANKARA, March 28 (Reuters) - Turkey’s central bank said on Saturday it had revised the maximum interest rate credit card lenders could charge each month to 1.25% for Turkish lira and 1% for foreign exchange transactions.

The interest rate where payments are overdue will be a maximum 1.55% for lira charges and 1.30% for transactions in foreign currencies. The revisions will come into effect on April 1, the bank said on Twitter. (Reporting by Birsen Altayli; Writing by Tuvan Gumrukcu; Editing by Mark Potter)

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