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Maximum Interest Rates for Credit Cards Unchanged

The monthly maximum interest rates that banks can charge on credit card borrowing in the first quarter of 2019 have been left unchanged.

Banks in Turkey, as is the case in other countries, charge higher interest rates for credit card borrowing than they do for consumer loans. The CBRT, therefore, advises credit card holders with short-term credit needs to seek a consumer loan rather than borrowing on personal credit cards.

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