FREE TOOL · NO SIGNUP

Statutory Interest Calculation

Enter the principal, date range and interest rate — calculate statutory or commercial default interest as simple interest instantly.

Calculation

Results update instantly as you change the values.

₺

%

The rate is an example value; enter the current rate yourself. Law No. 3095 applies simple interest as a rule (compound interest is prohibited except in exceptions). This tool is for informational purposes only.

Total (principal + interest)
₺0,00
Number of days 0 days
Accrued interest ₺0,00
Principal ₺0,00

How is legal interest calculated?

Under Law No. 3095, if no rate is set in the contract, legal interest applies to ordinary debts, and commercial default interest (TCMB short-term advance rate) applies to commercial debts where both parties are merchants.

The rule is simple interest: interest accrues only on the principal; interest on interest is not applied.

FORMULA (SIMPLE INTEREST)
Interest = Principal × (Rate ÷ 100) × (Days ÷ Day basis)
Total = Principal + Interest

Example

Principal₺50.000,00
Duration180 days
Rate (annual)%30
Accrued interest₺7.397,26
Total₺57.397,26

50,000 × 0.30 × 180 ÷ 365 = 7,397.26 ₺ interest.

Frequently asked questions

What is the difference between legal interest and commercial default interest?
Legal (ordinary) interest applies to non-commercial debts when no rate is specified in the contract. Commercial default interest, on the other hand, applies to commercial debts where both parties are merchants; it equals the TCMB short-term advance rate and is significantly higher than legal interest.
Can compound interest be applied?
As a rule, no. Law No. 3095 is based on simple interest; compound interest applies only in certain current accounts between merchants and some banking transactions.
When does interest begin to accrue?
If there is a specific due date in the contract, from the day after the due date; if there is no due date, from the date the creditor gives notice (default).
Where can I find the current rate?
The legal interest rate is determined by presidential decree (updated on June 1, 2024). Commercial default interest is tied to TCMB's short-term advance rate. Enter the rate in effect during the calculation period.
Share this tool
Share it with someone who'd find it useful — no signup, always free.

Automate enforcement and late-payment tracking

Apt Yönet accrues late-payment interest and balance amounts automatically for every unit and streamlines enforcement tracking too.

Start Free View features

Related Posts

Looking for another tool?

All the free calculators in one place.

See all tools
Ücretsiz Demo Talep Et