Accordingly, the distinction between 20 percent and 40 percent, depending on the limit applied in credit cards, was removed and the minimum amount was determined as 20 percent of the debt of the period.
In order to increase the limits of credit cards, the limits taken into account by the banks when determining the card limit were increased, and the total card limit was determined by the banks to not exceed 4 times the average monthly net income of the person concerned for the first year and 8 times for the second and subsequent years.
The issue regarding the use of cash, closing the purchase of goods and services, cancellation of credit cards for which the minimum amount is not paid, and not issuing a new credit card until the debt is paid in full were left to the discretion of the banks, and the banks were allowed to define grace periods by not demanding their receivables, including the minimum amount, during the postponement of their card debts.
If the monthly or annual average income level cannot be determined, the total limit of credit cards that can be obtained by real persons has been increased from 2.000 TL to 5.000 TL.
In case the principal and interest payments of consumer and vehicle loans extended by banks, financial leasing, factoring and financing companies are postponed upon the request of customers, it has been decided not to take the postponement period into account within the term limits determined in the relevant legislation.
It was left to the discretion of the banks to provide credit rating grades to be obtained from loan customers and additional documents required to be obtained.
The valuation of real estate collateral for loans extended to customers affected by earthquakes/disasters has been postponed.
The deadlines for the information and documents required to be submitted to banks by companies subject to independent control regarding loan payments have been extended for companies located in provinces in the earthquake/disaster region.
The flexibility provided regarding the credit term limit and credit card installment limit has also been extended until 1/1/2024.
The BDDK (Banking Regulation and Supervision Agency) has also recently provided the opportunity for existing and new loans for citizens affected by earthquakes to be in terms of term and installments for 6 months starting from February 6th.