Limits and term restrictions on consumer loans have been updated. Accordingly, the term limit for loans under 125,000 Turkish Lira has been increased to 36 months. For loans up to 250,000 liras, the limit has been set at 24 months.

The Banking Regulation and Supervision Agency (BDDK) has decided to change the general term limit for consumer loans.

According to the decision made by the board, changes were made in the limits for consumer loans with terms of 12, 24, and 36 months. According to the statement from the BDDK, the limit for consumer loans with a term up to 36 months has been raised from 50,000 to 125,000 liras. For terms up to 24 months, loans between 50,000 and 100,000 liras were granted, but this range has been increased to between 125,000 and 250,000 liras. With the new decision, the limit for consumer loans with a term up to 12 months has been raised from 100,000 to 250,000 liras. The statement included the following: “Within the framework of macro-prudential steps taken to ensure financial stability, the monetary amounts in the general term limits for consumer loans set by the Board’s Decision No. 11152 dated February 13, in the context of the Board’s Decision No. 10222 dated June 9, 2022, have been updated taking into account macroeconomic data.” The last change in credit limits was made on June 9, 2022.