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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.
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