Number of mobile phone installments dropped! Here is the price limit

The Banking Regulation and Supervision Agency – The new draft regulation issued by the BRSA at the beginning of last week revealed details about the limitation of the number of mobile phone installments . This draft regulation has been formally approved.

Thus, within the scope of the new regulation, which is no longer a draft, the number of mobile phone installments is limited to 3 months for the phones which are more expensive than 3500 TL. So, those who want to buy a smartphone that exceed this price have to pay it in three installments.

Please note that this regulation also applies to loans extended by banks and GSM operators. In other words, it is not possible to buy any phone that exceeds legally 3500 TL in installments more than 3 months.

There is no problem with the phones under 3500 TL. You can use up to 12 months of credit for these phones.

Loans granted to consumers for the purpose of acquiring goods or services within the scope of acquiring and renovating the houses as the integral part of the Turkish Civil Code no. consumer loans, excluding loans granted for the purpose of financing education and tuition fees, and loans provided to be paid directly to the account of the relevant institution or organization for the purpose of financing debts to public institutions and organizations one hundred twenty thousand Turkish Liras and the maturity of the loans granted for the purchase of vehicles with a maturity of sixty months, the final invoice value of one hundred twenty thousand Turkish Lira The maturity of loans granted for the purchase of vehicles and loans with vehicle guarantee is forty-eight months; two months, the price of three thousand five hundred Turkish Liras for the purchase of mobile phone loans can not exceed the maturity of three months. The same terms are applied to the restructuring of these loans. ”

6 (6) The Board is authorized to change the restrictions in this article or to impose additional restrictions on this matter by taking the opinion of the Presidency Strategy and Budget Presidency, the Ministry of Treasury and Finance. ”

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