Late Payment Interest Calculator
Late payment interest (gecikme faizi) is charged on overdue obligations in Turkey. The rate differs for commercial and civil transactions, and may be contractually agreed upon within legal limits.
Our calculator computes the interest accrued on an overdue amount from the due date to the payment date.
Legal vs. Commercial Interest Rates
The legal default interest rate for civil transactions is set annually by the government. Commercial default interest is typically higher and based on the Central Bank's late liquidity window rate.
Contractual Interest
Parties may agree on a higher interest rate in their contract, subject to legal caps. If no rate is specified, the legal default rate applies automatically.