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How to Calculate a Credit Card Minimum Payment in Türkiye

Region: TürkiyeHesaplayıcı3 min read

Short answer

A Turkish credit card's minimum payment is a share of the statement balance set by the limit: 20% for a limit of 50,000 TRY or less, 40% above. For example, a card with a 40,000 TRY limit and a 20,000 TRY balance has a 4,000 TRY minimum; the 16,000 TRY left costs 520 TRY a month at 3.25%.

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Formula

minimum share = 20% (limit ≤ 50,000 TRY) or 40% (limit > 50,000 TRY)

minimum payment = statement balance × minimum share

balance left = statement balance − minimum payment

one month of interest = balance left × monthly contractual rate

  • statement balance: the total on your card statement
  • card limit: the total limit the bank gives the card; it sets the share
  • minimum share: the share set by BDDK, the Turkish banking regulator (Board Decision 10970, 26 September 2024)
  • monthly contractual rate: your card’s monthly rate as a decimal (0.0325 for 3.25%)

Step-by-step example

A card with a 40,000 TRY limit, a 20,000 TRY statement balance and a 3.25% monthly contractual rate:

  1. Find the share: the 40,000 TRY limit is not above 50,000 TRY, so the share is 20%.
  2. Find the minimum payment: 20,000 × 0.20 = 4,000 TRY.
  3. Find the balance left: 20,000 − 4,000 = 16,000 TRY.
  4. Find one month of interest on it: 16,000 × 0.0325 = 520 TRY.

The rate is an illustration: 3.25% is the central bank’s maximum for statement balances under 30,000 TRY. Your card’s rate may be lower.

How the limit changes the share

Card limit Statement balance Monthly rate Share Minimum payment Balance left One month of interest
40,000 TRY 20,000 TRY 3.25% 20% 4,000 TRY 16,000 TRY 520 TRY
60,000 TRY 20,000 TRY 3.25% 40% 8,000 TRY 12,000 TRY 390 TRY
150,000 TRY 100,000 TRY 3.75% 40% 40,000 TRY 60,000 TRY 2,250 TRY

The first two rows have the same balance. Only the limit is above 50,000 TRY in the second, so the minimum doubles and the interest on the rest falls.

What to know

  • The limit sets the share. The share is chosen by the card limit, not the balance; the amount is a share of the statement balance (BDDK Board Decision 10970; Regulation on Bank Cards and Credit Cards art. 22/7).
  • A bank may ask for more. A bank may set a higher minimum. Over-limit amounts and special shares a bank may apply to new cards in their first year are left out.
  • The minimum does not stop interest. If you pay the minimum, contractual interest runs on the rest. If you pay less than the minimum, late interest applies to the unpaid part.
  • The interest is an estimate. Banks charge interest day by day from the transaction dates. Banks add 15% KKDF and 15% BSMV to the interest; the calculator shows both (520 TRY of interest, 676 TRY with taxes).

Worked example: A 40,000 TRY limit, a 20,000 TRY statement, 3.25% a month

Minimum payment

4,000 TRY

Minimum share
20.00%
Balance left after the minimum
16,000 TRY
One month of interest on it
520 TRY
KKDF
78 TRY
BSMV
78 TRY
One month of interest with taxes
676 TRY
Step by step

  1. Minimum share

    minimum share = 20% (limit ≤ 50,000 TRY) or 40% (limit > 50,000 TRY)

    minimum share = 20% (limit 40,000 ≤ 50,000) = 20.00%

  2. Minimum payment

    minimum payment = statement balance × minimum share

    minimum payment = 20,000 × 20% = 4,000

  3. Balance left after the minimum

    remaining balance = statement balance − minimum payment

    remaining balance = 20,000 − 4,000 = 16,000

  4. One month of interest on it

    contractual interest = remaining balance × monthly contractual rate

    contractual interest = 16,000 × 3.25% = 520

  5. KKDF

    KKDF = contractual interest × KKDF rate

    KKDF = 520 × 15% = 78

  6. BSMV

    BSMV = contractual interest × BSMV rate

    BSMV = 520 × 15% = 78

  7. One month of interest with taxes

    interest with taxes = contractual interest + KKDF + BSMV

    interest with taxes = 520 + 78 + 78 = 676

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