Change in the number of loans and installments for phones from BRSA
A while ago, installment payments were restricted for all electronic devices and especially mobile phone purchases. Later, these installments began to be allowed on a limited basis. Now, with the new decision taken by BRSA, it has been announced that the price limitation for installment payments on mobile phones has been increased from 12 thousand TL to 20 thousand TL.
With the new regulation, installments of up to 12 months will be offered for phones with a price tag of 20 thousand TL and below.
In the statement made by BRSA, it was stated that the maturity limit for consumer loans extended for the purchase of mobile phones was determined as twelve months for mobile phones with a price of 20 thousand liras and below, and the maturity limit was determined as three months for mobile phones with a price of over 20 thousand liras.
CURRENT LIMIT WAS 12 THOUSAND TL
Currently, credit card installments are not made for new/second-hand (not refurbished) mobile phones, but if the mobile phone is a refurbished product, installments can be made for 12 months without any amount limit.
In the old practice, there was no distinction between renewed products in terms of consumer loans.
THE LIMIT FOR REFURBISHED PRODUCTS IS 25 THOUSAND TL
In the statement, it was stated that the maturity limit for mobile phones, which are “refurbished products”, is 12 months for those whose price is 25 thousand lira and below, and it is determined as 3 months for those whose price is over 25 thousand lira.
The statement also said, “In order for these Decisions to be implemented, mobile phones that are refurbished products must be sold by workplaces that are ‘renewal centers’ or ‘authorized dealers’ in accordance with the ‘Regulation on the Sale of Refurbished Products’ carried out by the Ministry of Commerce.
In the aforementioned Regulation, the phrases in question are defined as follows: Renewed product: Used goods offered for sale after the renewal and certification process carried out by the renewal center, Renewal center: The Ministry or Turkish Standards Institute established to carry out the renewal, certification of used goods and other transactions specified in this Regulation. Legal entity that carries the standards set by the Ministry and operates based on the renewal authorization certificate received from the Ministry, Authorized dealer: Offering renewed products to the consumer for commercial or professional purposes, including public legal entities, or “A natural or legal person acting on behalf or on behalf of the refurbished product offerer and authorized by the renewal center” information was included.
In terms of consumer loans, currently there is a 12-month maturity for mobile phone purchases with a price of 12 thousand liras and below, and a 3-month maturity for mobile phones priced over 12 thousand liras. In the new application, there is no distinction between renewed products in terms of consumer loans.
*The visual of the news was provided by AA.