Consumer Loan Rates Are At Are The Highest Level This Year

Consumer Loan Rates Are At Are The Highest Level This Year Consumer loan interest rates are at the highest level this year. Loan rates exceeded 21 percent in the week ending November 20, reaching the highest levels of 2020. The positive momentum in loan rates continues in all categories due to monetary tightening. According to data released by the Central Bank of Republic of Turkey (CBRT), the average interest on loans applied by banks in the week ending on November 20 was recorded as 21.23. Accordingly, the highest levels of this year in consumer loan rates were tested. With the effect of the monetary expansion in force within the scope of combating the crisis caused by the coronavirus epidemic, 8 percent levels were followed in April in consumer loan interests. While monetary tightening came with the normalization steps, an increase in consumer loan rates started as in all segments.