Public benchmark and statutory interest rates

Alongside the official benchmark rates there are a number of interest rates that are defined as statutory interest rates because they are defined in legislation.

Statutory interest rate

The statutory interest rate is the penalty applied in the event of default if no specific rate rate is stated in the loan agreement. It is also used as a reference rate for legislation and contracts. Since 1987 it has been set annually in the General State Budget Law.

Check the rates from previous years in the table of statutory interest rateAbre en ventana nueva.

Interest rate on unpaid taxes

The interest rate on unpaid taxes is the statutory interest rate incremented by 25%, unless established otherwise in the State Budget Law.

Check the rates from previous years on the table of interest rates on unpaid taxesAbre en ventana nueva.

Interest rate for late payment of commercial  transactions

Law 3/2004 (in Spanish)Abre en ventana nueva on combating late payment in commercial transactions establishes an interest rate for this type of transaction, payable if no other rate is stated in the agreement. 

This rate is the sum of the interest rate applied by the European Central Bank to its most recent main financing operation, incremented by 8 percentage points. This rate will be applied for six months after it is set. The Spanish Ministry of Economy, Industry and Competitiveness publishes this interest rate in the Official State Gazette (BOE) every six months, and it can be checked on the table of interest rate for late payment of commercial transactions chartAbre en ventana nueva.


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