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Changes in interest

On 1st January 2016 the new amendment of the law dated on 23rd April 1964 - Civil Code (Dz.U. z 2014, poz. 121 ze zm.) came into force. It differentiates the amount of capital interest and interest for a delay.

Currently the statutory interest (capital) is the sum of the NBP’s reference rate and 3,5 percentage points, whereas the statutory interest for a delay is the sum of the NBP’s reference rate and 5,5 percentage points. The maximum interest cannot exceed two times of the statutory interest or the statutory interest for a delay, respectively.

As the current  NBP’s reference rate is 1,50%, the capital statutory interest is 5% and the statutory interest for a delay is 7%. It means the reduction of the statutory interest which used to be 8% for both categories of interest. However, at the same time the amount of the maximum interest for a delay increased from 10% to 14%.

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