Statutory interest rate and statutory commercial interest rate to fall from 1 January 2025

From 1 January 2025, new rates of statutory interest and statutory commercial interest will apply. As from then, the statutory interest rate is 6% and the statutory commercial interest rate is 11.15%.

What is statutory (commercial) interest?

If your debtor does not pay on time, you will (potentially) suffer delay damages. For example:

reduced liquidity, which may prevent you from paying your own creditors;
having to postpone planned investments; and
missing out on a potential return.

The legislator has set a fixed compensation for this in the form of statutory interest and statutory commercial interest, regardless of whether the creditor has suffered damage. This avoids evidentiary uncertainties and provides clarity to creditors and debtors.

Difference between statutory interest and statutory commercial interest

Statutory interest applies to non-commercial transactions, including transactions with consumers (Article 6:119 of the Dutch Civil Code).

The statutory commercial interest rate applies to commercial transactions (Article 6:119a of the Dutch Civil Code).

New interest rates from 1 January 2025

From 1 January 2025, new lower rates of statutory interest and statutory commercial interest will apply. From 1 January 2025, the statutory interest rate will be 6%. It was 7%. As of 1 January 2025, the statutory commercial interest rate is 11.15%. That was 12.25% The new rate for statutory interest was set by Order in Council dated 10 December 2024. The new commercial interest rate automatically follows the refinancing rate set by the European Central Bank pursuant to Article 6:120(2) of the Dutch Civil Code. See also this Dutch central government website.

When is statutory (commercial) interest due?

Statutory interest is due from the day following that on which the debtor defaulted on the payment of the sum of money (See, for example, Supreme Court of the Netherlands 20 June 2014, ECLI:NL:HR:2014:1490, paras 5.1 and 5.2) until the debtor is no longer in default. Default occurs when:

the debtor is given notice of default by means of a written summons in which he is given a reasonable period for performance and performance is not achieved within this period (Article 6:82 paragraph 1 of the Dutch Civil Code);
the debtor fails to comply within a fatal deadline (Article 6:83 opening words and a of the Dutch Civil Code);
an obligation arising from an unlawful act or an obligation to pay damages (within the meaning of Article 6:74 of the Dutch Civil Code) is not immediately complied with (Article 6:83 opening words and under b of the Dutch Civil Code); and
the creditor must infer from a communication from the debtor that he will not perform (Section 6:83 opening words and (c) of the Dutch Civil Code).

You can read more about default in our 31 December 2019 blog in the Contract Law Series.

For commercial transactions – in brief – the statutory commercial interest due on account of delay in payment of a sum of money is due from the day following the day agreed as the final day for payment up to and including the day on which the debtor has paid the sum of money and, if no final day for payment has been agreed, from 30 days after the commencement of the day following that on which the debtor received the invoice.

Need help with debt collection or interest questions?

Do you have questions about legal (commercial) interest, damages or default? Or would you like support in collecting a claim? Wieringa Advocaten will be happy to help you.