Turkey Lifts 12-Month Cap on Installment Purchases
Trade Ministry gains authority to set new limits per product category after regulation published in Official Gazette.
KEY POINTS
- 12-month general installment cap abolished as of Oct. 15
- Sector-specific limits for electronics, white goods, travel removed
- Trade Ministry now sets all installment rules by product category
- Post-sale bank installment conversions also fall under new authority
- Housing sales excluded from the regulatory change
A regulation published in the Official Gazette on October 15 removes the fixed 12-month ceiling on installment sales for all goods and services except housing. Sector-specific caps for white goods, electronics, furniture, air travel, and tourism have also been abolished.
Authority to determine installment periods, amount thresholds, and additional restrictions now rests solely with the Trade Ministry. The Ministry is expected to announce new product-specific rules on its website soon.
The change also covers post-purchase installment conversions and payment deferrals arranged through banks. Housing loans remain outside the scope of the new framework.
Until the Ministry issues new decisions, the previous limits are void but no automatic increase in installment counts takes effect.
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