Recent Development
The Communiqué Amending the Communiqué on the
Procedures and Principles Regarding Fees Banks Can Charge
Commercial Clients ("Amendment") entered
into force following its publication in the Official Gazette No.
31410 dated March 1, 2020. The Amendment updated the utilization
fees and prepayment fees that banks can charge their commercial
clients.
What Does the Amendment Say?
Pursuant to the Amendment, the upper limit for utilization fees
that banks can charge commercial clients is now 1.1% (up from
1%).
Moreover, the maximum amount of prepayment fees for loans
extended after March 1, 2020 will be subject to the following
ceilings:
- For TRY loans with a remaining maturity of 24 months or less,
2% of the amount to be prepaid by the client (which must be
calculated after making the applicable discounts due prepayment);
and
