There has been an increase in the maturity limit for consumer loans. According to the new regulation, loans up to 125,000 Turkish Lira can be repaid over 36 months. Loans below 250,000 Turkish Lira can be paid back in 24 installments. Here are the new credit calculations for the upcoming period…The Banking Regulation and Supervision Agency (BRSA) has changed the installment limits on consumer loans. In a press release from the institution, it was stated that “Monetary amounts have been updated taking into account macroeconomic data.” Previously, the 36-month maturity right was only available for loans below 50,000 Turkish Lira. Now, loans up to 125,000 Turkish Lira will have a 36-month installment option. For loans between 125,000 Turkish Lira and 250,000 Turkish Lira, a 24-month installment option has been introduced. Prior to the regulation, the 24-month installment was applicable only for loans between 50,000 and 100,000 Turkish Lira. With the new decision, the number of installments for loans above 250,000 Turkish Lira will be 12. In the current regulation, loans over 100,000 Turkish Lira had a 12-month installment limit. Furthermore, the same maturities will apply to loan restructuring. The maturity limits for loans were last determined in June 2022. HOW MUCH WILL BE PAID? For a 125,000 Turkish Lira loan with a 36-month maturity and a 4% interest rate, the monthly repayment amounts to 7,736 Turkish Lira. The total repayment of the loan reaches 279,239 Turkish Lira. With the same interest rate, the repayment of a 250,000 Turkish Lira loan over 24 months amounts to 444,206 Turkish Lira. The monthly installments are calculated to be 18,499 Turkish Lira. Someone taking out a 300,000 Turkish Lira loan with a 4% interest rate and 12 installments pays 34,205 Turkish Lira each month. The total payment increases to 412,192 Turkish Lira.