According to the Central bank decree on commercial loans published in the Official Gazette;

-Loan allocation fees are limited to 0.25% of allocated loan limits and 0.125% of renewed limits.

-Loan usage fees are limited to 1.1% of the loan, excluding revolving loans.

-Loan usage fees for revolving loans are capped at 1% per annum of the average loan utilization balance.

The Central Bank cut the policy interest rate by 100 basis points to 12%, despite the inflation rising to 80.2%, the highest level in 24 years. According to central bank data, as of September 16, the weighted average interest rate for commercial loans was 20.5%. Even if the policy interest rate drops, the main complaint of those who want to take out loans is that taxes, commissions and other costs make borrowing costly.

The spread between the policy rate and loan rates, the Central Bank's main monitoring issue, and the inoperability of the monetary transmission mechanism is due to the fact that these rates diverge too much. Criticisms brought about commercial loan rates far above the criteria, Central Bank President Mr. It was the main reason why Şahap Kavcıoğlu announced new rules last month to narrow the spread. But so far, rates are only slightly off. The central bank reduced and standardized the commission fees charged by lenders for commercial loans.

Kaynak: Tera Yatırım-Enver Erkan
Hibya Haber Ajansı