The Central Bank of Cyprus has calculated the reference interest rate at 11.53% under Article 314A of the Penal Code Law, Cap. 154. Under Article 314A, receiving, charging, agreeing or taking for oneself or a third party any financial or pecuniary benefit exceeding the reference rate in connection with granting a loan, providing or extending a payment term, renewing a loan, or discounting a loan constitutes an offence punishable on conviction by up to five years’ imprisonment or a fine of up to EUR 30,000, or both.
Central Bank of Cyprus 2025-07-25
Central Bank of Cyprus sets Penal Code reference interest rate at 11.53%
The Central Bank of Cyprus has set the reference interest rate at 11.53% under Article 314A of the Penal Code Law, Cap. 154. Exceeding this rate in financial transactions related to loans or payment terms is an offence, punishable by up to five years' imprisonment or a fine of up to EUR 30,000, or both.