New Maturity Regulation on Mobile Phone Loans from BRSA

With a new decision taken by the Banking Regulation and Supervision Agency, consumer loan maturity limits applied to the purchase of new and refurbished mobile phones have been reorganized according to the price thresholds of the devices.

Price Threshold for New Phones

According to the decision announced by the Banking Regulation and Supervision Agency, consumer loan maturity limits for new mobile phone purchases are divided into two based on the sales price of the device.

For devices priced at 40,000 Turkish Liras and below, the maturity limit on consumer loans has begun to be applied as 12 months.

High-Priced New Devices

Within the framework of the pricing policy determined in the new mobile phone market, a different maturity rule was introduced for upper-segment devices.

For new devices priced above 40,000 Turkish Liras, the consumer loan maturity limit remained limited to 3 months.

Refurbished Phone Regulation

Special limits were introduced for second-hand devices within the scope of the Regulation on Refurbished Products published in the Official Gazette.

Special relaxed amount limits were determined for refurbished mobile phones purchased from businesses operating as renewal centers or authorized dealers.

Installment Conditions for Refurbished Devices

Price-based maturity distinctions were implemented in the purchase of refurbished mobile phones, just as in new devices.

While the credit maturity limit will be applied as 12 months for refurbished devices priced at 50,000 Turkish Liras and below, the maturity limit was set as 3 months for refurbished devices above this amount.