New regulation on mobile phone sales: BRSA announces details
According to the statement made by the BRSA, the installment limit for mobile phones priced at 20 thousand TL has been redefined.
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In a statement issued by the BRSA, it was announced that amendments have been made to the Regulation on Credit Transactions of Banks.
The statement indicated that for consumer loans used for the purchase of mobile phones, the installment limit has been set at twelve months for mobile phones priced at 20,000 liras and below, and at three months for mobile phones priced above 20,000 liras.
INSTALLMENT LIMIT IS 3 MONTHS FOR THOSE PRICED ABOVE 20,000 LIRAS
The statement further noted that for "refurbished" mobile phones, the installment limit has been set at 12 months for those priced at 25,000 liras and below, and at 3 months for those priced above 25,000 liras.
Under the current situation, installments on credit cards are not available for new/second-hand (non-refurbished) mobile phones; however, if the mobile phone is a refurbished product, it was possible to pay in 12 installments regardless of the price.
NO DISTINCTION FOR REFURBISHED PRODUCTS
Regarding consumer loans, under the current situation, a 12-month installment period was applied for mobile phone purchases priced at 12,000 liras and below.
While a 3-month installment period was applied for mobile phones priced above 12,000 liras...
In the new practice, there is no distinction for refurbished products regarding consumer loans.