Mr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, said that due to the lowering of interest rates by the Central Bank of Sri Lanka, it is expected that the interest rate of credit cards issued by commercial grade banks and financial institutions will also decrease.
In the past, the interest rate was very high and for credit cards, they were as high as 25% – 30%.
Credit card interest will also fall due to the fall in other interest rates of commercial grade banks.
