CREDIT+CARD+INTEREST+RATES+REDUCED+TO+28+PERCENT+FROM+NOVEMBER+1
Wednesday, 25 September 2019 - 17:27
CREDIT CARD INTEREST RATES REDUCED TO 28 PERCENT FROM NOVEMBER 1
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Effective from November 1, the maximum interest rate on credit cards has been reduced to 28 percent per year.

The Central Bank of Sri Lanka (CBSL) has announced that this is in line with the steps taken to reduce the market debt ratios.

The Central Bank also stated that the maximum interest rate applicable to pre-approved temporary overdrafts will be 24% per annum.

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