Turkish central bank revises maximum monthly credit card rates for banks

Turkey's central bank said on Saturday it had revised the maximum interest rate credit card lenders could charge each month to 1.25% for Turkish lira and 1% for foreign exchange transactions.

The interest rate where payments are overdue will be a maximum 1.55% for lira charges and 1.30% for transactions in foreign currencies. The revisions will come into effect on April 1, the bank said on Twitter.