ISTANBUL, May 10 (Reuters) - Turkish state lender Halkbank lowered its interest rate for housing loans with a maximum maturity of 10 years and an amount of up to 500,000 lira to a monthly 0.98 percent, the bank said in a statement on Thursday.
The move comes after President Tayyip Erdogan and his economic team advised banks to ease real estate borrowing in a meeting on Wednesday. According to Halkbank’s website, the monthly rate stood at 1.16 percent.
Ziraat Bankasi also lowered the interest rate on similar housing loans to a monthly 0.98 percent. (Reporting by Ebru Tuncay Writing by Ezgi Erkoyun Editing by Daren Butler)