August 1, 2019 / 8:33 AM / 22 days ago

Turkey's Ziraat Bank lowers loan interest rates

ISTANBUL, Aug 1 (Reuters) - Turkish state lender Ziraat Bank said on Thursday that it had lowered its interest rates on housing, consumer and corporate loans as of Aug. 1, a week after the central bank cut its main interest rate by 425 basis points to 19.75%.

It said it was lowering the housing loan rates to a monthly 0.99% for loans worth up to 500,000 lira with maturities up to 180 months. It lowered the consumer loan rates for maturities of up to 60 months to between 1.49%-1.59%.

In a statement, Turkey’s largest lender by asset size said, the annual interest rate on corporate loans, including restructured loans or loans with more than 24-month maturity, will be between 17.0%-19.0% as of Thursday. (Reporting by Ebru Tuncay Writing by Ezgi Erkoyun Editing by Ali Kucukgocmen)

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