What Are the Maximum Commission Rates Applied to Merchants?

According to Central Bank data:

The reference rate needed to calculate the maximum commission rates that banks can apply to merchants is the most recent two-week weighted average, as of the announcement date, of the weighted average interest rate that banks apply to all types of Turkish lira deposits opened with a maturity of 32–45 days.

For purchases of goods and services in installments, the maximum commission rate is applied by adding, for each installment, up to 50 percent of the maximum commission rate that applies to transactions without installments.

These maximum rates do not include the Banking and Insurance Transactions Tax.

The commission rates in the table below are the maximum rates valid for the relevant periods; the actual commission rates can be set freely within the framework of competitive market conditions and the business relationship between banks and merchants.