Statutory Interest Calculator

Work out statutory interest and commercial default interest under Law 3095, with the rate of each period. Since 31 July 2026 statutory interest is 80% of the CBRT rediscount rate on the previous 31 December; before that it was 24% by Presidential Decree.

Last updated: 28 Oct 2026

Statutory interest25,783.56₺365 days, 01.11.2025 – 31.10.2026

Principal100,000.00 ₺
Interest25,783.56 ₺
Total with principal125,783.56 ₺
Yearly rate of the last period31%
Daily interest (last period)84.93 ₺

Statutory interest rules (Law 3095): TBMM (3095 s.K.) / TCMB reeskont oranı (türetilmiş) 28 Oct 2026

CBRT rediscount rate: TCMB 30 Oct 2026

CBRT advance rate: TCMB 30 Oct 2026

Interest by period 2

How it is calculated

Statutory interest is the interest due under the Code of Obligations and the Commercial Code when no rate was agreed; a debtor in default also pays default interest at this rate unless agreed otherwise (Law 3095 Arts. 1–2). Law 7589 of 16 July 2026 (Official Gazette 31 July 2026) amended Art. 1: the rate is now set automatically each year at 80% of the CBRT rediscount rate on the previous 31 December. In commercial matters the creditor may claim the CBRT short-term advance rate even without a contract when it is higher (Art. 2/2). The interest is simple: no compound interest on statutory or default interest, subject to the Commercial Code (Art. 3). If the contract sets no default interest rate and the contractual interest rate is higher, default interest cannot be lower than the contractual rate (Art. 2/3); a default rate agreed in the contract applies whether it is higher or lower than the statutory rate (Art. 2/1). The rates change on 1 January and, when needed, on 1 July; the page follows the CBRT rates in the registry.

FormulaInterest = Σ principal × yearly rate × days ÷ 365 (for each rate period)Interest runs for each day from the start date up to the payment date (not included) at the rate in force that day. The period is split on 1 January, 1 July and the days a decree or law took effect. Statutory interest: 12% from 1 May 2005, 9% from 1 January 2006, 24% from 1 June 2024, and from 31 Jul 2026 80% of the rediscount rate on the previous 31 December. Commercial default interest: the CBRT advance rate on the previous 31 December, when higher than statutory interest. Under both rules, if the rate on 30 June differs from the 31 December rate by 5 points or more, the 30 June rate applies in the second half of the year.

Choose the interest type (ordinary or commercial claim).
Enter the principal, the date of default and the payment date.
The tool splits the range where the rate changes and works out each period.
The periods are added up; no interest on interest.

Example

TRY 100,000 from 28 Oct 2025 to 28 Oct 2026 at statutory interest: 276 days at 24% until 31 July 2026 (TRY 18,147.95) + 89 days at 31% (TRY 7,558.90) = TRY 25,706.85. 31% is 80% of the 38.75% rediscount rate on 31 Dec 2025.

Frequently asked questions

What is the statutory interest rate in 2026?

24% from 1 June 2024 to 30 July 2026 (Presidential Decree 8485). Since 31 July 2026, under Law 7589, 80% of the rediscount rate on the previous 31 December: 80% of 38.75% on 31 Dec 2025, i.e. 31%.

How does commercial default interest differ?

In commercial matters the creditor may claim the CBRT short-term advance rate of the previous 31 December (or the 30 June rate in the second half if it differs by 5 points or more). If that is lower than statutory interest, statutory interest applies.

Is statutory interest compounded?

No. Under Law 3095 Art. 3 no compound interest runs on statutory or default interest; special rules of the Commercial Code are reserved.

How many days is a year?

The yearly rate is divided by 365 and each day accrues at the rate in force that day. The law does not set the day basis; a court’s or enforcement office’s calculation may differ slightly.

Source

Enforcement Costs CalculatorWork out Turkish enforcement costs at current rates: filing fee, advance fee, collection fee by stage, prison-building fee, service costs and the minimum attorney fee.Legal Deadline CalculatorWork out the last day of Turkish appeal, answer and objection deadlines from the date of service, with public holidays and the judicial recess.Loan Late Payment Interest CalculatorCalculate the maximum default interest and taxes a Turkish bank can charge, day by day, when a personal, car or home loan payment is late.Turkish Late-Payment Surcharge CalculatorCalculate the surcharge on Turkish public debts under Law 6183, and the late penalty and surcharge on social security premiums, with current rates and a monthly breakdown.