The Banking Regulation and Supervision Agency (BDDK) introduced a new regulation on mobile phone purchases with installments. This development, which will provide convenience to buyers, has changed the amount taken into account in determining the maturity limit for consumer loans extended for the purchase of mobile phones.
In addition, a new regulation has been published for the purchase of refurbished products. What does the new regulation offer?
Term limit and installment period changed for mobile phone purchases
BRSA has made a new arrangement in installments to provide convenience to those who will buy mobile phones. In the official statement, the amount taken into account in determining the maturity limit for consumer loans has been increased.
According to the official statement, this amount was increased from 5 thousand liras to 12 thousand liras. In this context, the maturity limit of the consumer loan, which will be used for smartphones with a value of 12 thousand liras and below, has been updated to 12 months.
The consumer loan maturity limit for smartphones with a value of more than 12 thousand liras has been announced as 3 months.
The maturity arrangement was announced in the decision as “It has been decided to increase the amount of five thousand Turkish Liras, which is taken into account in determining the maturity limit for consumer loans extended for the purpose of purchasing mobile phones, to twelve thousand Turkish Liras”.
A separate installment arrangement was introduced for refurbished mobile phones.
In addition to the maturity limit, the new regulation also provides convenience for mobile phone purchases that are within the scope of “refurbished products”, provided that it is a “renewal center” or “authorized seller”, the installment period for credit cards used in mobile phone purchases has been determined as 12 months without any amount limit. .