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Credit card interest rates are reduced

By Sahan Rathanasekara

July 19, 2023

Commercial-grade banks have decided to reduce the interest rate of credit cards from the first day of August.

According to commercial bank sources, the current 34% interest rate on credit cards will be reduced to 30%.

The Central Bank of Sri Lanka recently reduced the interest rate and the commercial-grade banks should also take steps to reduce the interest rates accordingly, the Governor of the Central Bank said.