Ministry of Commerce Reduced the Number of Installments for Some Products

Ministry of Commerce Reduced the Number of Installments for Some Products The Ministry of Commerce has reduced the number of installments for some products. The number of installments was reduced for the sales of televisions, household appliances, furniture and jewelery. Following the BRSA, the Ministry of Commerce also decided to reduce the number of installments. The Regulation on the Amendment of the Regulation on Principles and Rules to be Applied in Retail Trade, prepared by the Ministry, entered into force after being published in the Official Gazette. In accordance with the regulation, sales in installments for consumers by retail businesses were reorganized. The installment period was reduced from 6 months to 4 months for the sales of electronic goods such as video, camera and sound systems, and for the sales of televisions with a price of over 3,500 lira. The period for tablet computer sales will continue as 6 months. In sales of electrical goods such as refrigerators, washing machines, dishwashers and electrical appliances, and furniture sales, the limit on the number of installments, which was 18 before, will not exceed 12. The number of installments will remain the same as 18 for domestic expenses related to airlines, travel agencies and accommodation. Previously, the installment period could not exceed 8 months in the sales of printed and non bullion jewelry by retail businesses, this limit was reduced to 6 months. The Banking Regulation and Supervision Agency (BRSA) announced on December 18 that the credit card installment periods for the aforementioned expenditures were reduced.