Statutory and Commercial Interest Calculator
Interest accruing on a receivable over a given date range.
This calculator produces estimates for general information and does not constitute legal advice. Contact us for a definitive assessment of your situation.
Statutory interest
Where no interest rate has been agreed in the contract, statutory interest applies under Law No. 3095. The statutory interest rate was 24% per annum for the period 01.06.2024 – 30.07.2026; as of 31.07.2026 it is set at eighty percent of the rediscount rate applied by the Central Bank of the Republic of Turkey (CBRT) on 31 December of the preceding year.
Commercial default interest
In commercial transactions, where the default interest rate has not been set in the contract and the interest rate applied by the CBRT to short-term advance transactions exceeds the statutory interest rate, default interest may be claimed at that rate. The calculator computes each period in which the rates changed separately.