Loan Late Payment Interest Calculator
Enter the overdue principal, the days late and your loan’s rate. Default interest at the legal cap and the KKDF and BSMV added to it are worked out.
- Monthly default rate4.54%
- Default interest181.48 ₺
- KKDF (loan fund levy)27.22 ₺
- BSMV (banking tax)27.22 ₺
- With the overdue principal4,235.92 ₺
KKDF rate: GİB / Cumhurbaşkanı Kararı
BSMV rate: GİB / Cumhurbaşkanı Kararı
Default interest cap: Ticaret Bakanlığı (6502 s.K. yönetmelikleri)
How it is calculated
If a payment is not made on its due date, the bank charges default interest per day on the principal part of the late amount. For consumer and home loans the rate is capped at the contract rate plus 30%, and no interest on interest is allowed. The delay also goes on your credit record.
Gecikme faizi = Geciken anapara × (akdi faiz × 1.3) × gün ÷ 30The default rate may not exceed the contract’s monthly rate plus 30%. It runs only on the principal part of the late payment; consumer loans add KKDF 15% and BSMV 15% to it.Example
On a personal loan at 3.49% a month, ₺4,000 of principal 30 days late carries at most 4.537%: 4,000 × 0.04537 × 30 ÷ 30 = ₺181.48 interest plus ₺27.22 KKDF and ₺27.22 BSMV; ₺235.92 in all.
Frequently asked questions
What is the maximum default interest on a loan?
1.3 times the contract rate. For a loan at 3% a month, default interest is at most 3.9% a month. For a variable-rate mortgage the cap is 30% above the current rate.
Does default interest run on the whole payment?
No. Under the regulation it is computed on the principal inside the late amount; no interest may be charged on the payment’s interest part.
How is default interest set on a business loan?
The contract comes first. If it sets no rate, Law 3095 allows the CBRT short-term advance rate of 31 December of the previous year; if the contract rate is higher, default interest cannot be lower than it.