Annual Legal Interest Rate Updated by Presidential Decree No. 8485

According to the Presidential Decree numbered 8485 ("Decree") which was published in the Official Gazette dated May 21, 2024 and numbered 32552, the annual legal interest rate has been increased from 9% to 24%.

The legal interest rate will be in force as of June 1, 2024.

The full text of the Decree is available (in Turkish) here.

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr