The Central Bank of Cyprus has calculated the reference interest rate under Article 314A of the Penal Code Law at 11.72%. Under Article 314A, receiving, charging, agreeing, or otherwise obtaining a financial or pecuniary benefit exceeding the reference interest rate in connection with granting a loan, extending a payment deadline, renewing a loan, or discounting a loan constitutes an offence, punishable on conviction by up to five years’ imprisonment, a fine of up to EUR 30,000, or both.
Central Bank of Cyprus 2026-04-24
Central Bank of Cyprus calculates Penal Code reference interest rate at 11.72%
The Central Bank of Cyprus has set the reference interest rate under Article 314A of the Penal Code Law at 11.72%. Charging or obtaining a financial benefit above this rate in connection with loan granting, extension, renewal, or discounting constitutes a criminal offence, punishable by up to five years’ imprisonment, a fine of up to EUR 30,000, or both.