The Central Bank reduced its policy rate to 42.5 percent by reduced the policy interest rate of 250 basis points in the second monetary policy board of the year. Following this decision of the Central Bank, the eyes were turned to the interest rates of banks’ housing, vehicle and consumer loans.
As of March 8, 2025, the lowest credit rates offered by banks fell to remarkable levels especially in housing, vehicles and consumer loans.
The Banking Regulation and Supervision Agency (BRSA) also implemented a new regulation last week to maintain financial stability. With the amendment, the credit maturity periods were extended, so that consumers had the opportunity to pay in more appropriate installments by spreading their loans to a longer term.
What was the number of credit limits and futures?
– 36 months for loans with a loan amount of 125 thousand TL or less,
– 24 months for loans that are over 125 thousand TL and not over 250 thousand TL, the loan amount is 24 months.
– 12 months for loans with a loan amount above 250 thousand TL.
Here are the monthly installment and total repayment of 125 thousand TL consumer loan with a maturity of 36 months:
Akbank
Interest rate 3.73 %
Total Payment 267.420 TL
Monthly Installment 7.408 TL
