The Central Bank of Cyprus published its calculation of the reference interest rate under Article 314A of the Criminal Code Law, setting it at 11.42%. Under Article 314A, receiving, collecting, charging or contracting for financial or property benefits that exceed the reference interest rate in connection with granting any loan, extending a payment term, or renewing 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 2025-04-25
Central Bank of Cyprus sets the reference interest rate at 11.42% for Criminal Code usury enforcement
The Central Bank of Cyprus has set the reference interest rate at 11.42% under Article 314A of the Criminal Code Law. Exceeding this rate in financial transactions related to loans can result in penalties, including up to five years' imprisonment, a fine of up to EUR 30,000, or both.