While benchmarked interest rates unchanged, the Board has decided to adopt targeted measures to reduce specific interest rates that it considered to be excessive, which would help marginal borrowers. The Board anticipates a further reduction in overall market lending rates. The maximum interest rate on Credit Cards 18.00%, the maximum interest rate on Pre-arranged Temporary Overdrafts 16.00%, the maximum interest rate on Pawning Facilities 10.00%, Penal interest rate over the regular interest rate 2.00 percentage points.
Sri Lanka policy interest rate unchanged at August Monetary Policy meeting
Interest RatesAug 20, 2020