ComBank cuts interest rates on credit cards

The Commercial Bank of Ceylon this week announced an immediate reduction in the interest rate applicable on all credit cards issued by the bank.

The interest rate on outstanding balances on our Gold, Silver and Electronic cards has been reduced from 35 % to 22 % per annum or 1.83 % per month with effect November 1, a bank spokesman said.
He said this reduction is in line with the trend of reducing lending rates, and is even less than the 24 % requested by the Central Bank from the credit card issuing banks of Sri Lanka.