Research · Data
Late Payment Interest Rates by Country (2026)
Statutory late payment interest rates for B2B invoices in 20 countries: formulas, current H2 2026 rates, fixed compensation, payment terms and official sources.
Last updated · Rates last verified October 2026
Summary
Most EU countries charge late business payers the European Central Bank reference rate plus at least 8 percentage points, about 10.40% for the second half of 2026, plus a fixed €40 per invoice. The UK adds 8% to the Bank of England base rate. Outside Europe, rules vary: the US and Canada have no general statutory B2B rate.
Key takeaways
- The EU Late Payment Directive (2011/7/EU) sets a floor of the ECB reference rate + 8 percentage points. For 1 July – 31 December 2026 the reference rate is 2.40%, so the EU minimum is 10.40%.
- Several countries go above the floor: Germany adds 9 points to its base rate (10.52%), France 10 points to the ECB rate (12.40%) and Poland 10 points to the NBP rate (13.75%).
- Every EU country must grant at least €40 fixed compensation per late invoice, on top of interest and without a reminder.
- Default B2B payment terms are usually 30 days; contracts may stretch to 60 days, longer only if not grossly unfair to the creditor.
- The UK charges Bank of England base rate + 8% and fixed sums of £40, £70 or £100 depending on the debt size.
- Turkey has the highest rate in the table: 43% a year for 2026 under Art. 1530 of the Commercial Code, set each January by the central bank.
- The United States and Canada have no single nationwide statutory rate for private B2B invoices; the contract and state or provincial law decide.
Statutory late payment interest by country
Rates apply to business-to-business invoices unless a contract sets a different, lawful rate. “Current rate” is shown only where an official source publishes it; otherwise use the formula and the linked source.
| Country | Region | Statutory B2B rate | Current rate | Fixed compensation | Payment terms | Legal source |
|---|---|---|---|---|---|---|
| Austria | EU | Basiszinssatz + 9.2 pp | 10.73%1 Jul – 31 Dec 2026 · base rate 1.53% + 9.2 pp | €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | UGB §§ 455–458OeNB: reference interest rates (Basiszinssatz)UGB § 456 (RIS) |
| Belgium | EU | ECB rate + 8 pp, rounded up to the next half point | See source (set by Finance Ministry notice) | €40 per invoice | Default: 30 daysMax: 60 days | Law of 2 August 2002 on late payment, Arts. 4–6Law of 2 August 2002 (Justel) |
| Canada | Americas | No general B2B rate; 5% a year where interest is payable but no rate is stated | Varies by province · see source | None | Default: Contract; federal construction work 28 daysMax: No general cap | Interest Act (R.S.C. 1985, c. I-15), s. 3; Federal Prompt Payment for Construction Work ActInterest Act (Justice Laws)Federal Prompt Payment for Construction Work Act |
| Denmark | EU | Nationalbanken lending rate + 8 pp | 10.00%1 Jul – 31 Dec 2026 · lending rate 2.00% + 8 pp | DKK 310 per invoice | Default: 30 daysMax: No fixed cap; terms must not be grossly unfair | Renteloven (Interest Act), §§ 3, 5, 9bDanmarks Nationalbank: rate increase of 11 June 2026Renteloven (Retsinformation) |
| European Union (minimum) | EU | ECB reference rate + at least 8 pp | 10.40%1 Jul – 31 Dec 2026 · ECB 2.40% + 8 pp | At least €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair); public bodies 30 days | Directive 2011/7/EU, Arts. 2–7Directive 2011/7/EU (EUR-Lex)ECB key interest rates |
| Finland | EU | Bank of Finland reference rate + 8 pp | 10.50%1 Jul – 31 Dec 2026 · Bank of Finland | €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | Korkolaki (Interest Act 633/1982), §§ 4a, 12Bank of Finland: reference rate and penalty interest 1.7–31.12.2026 |
| France | EU | ECB refinancing rate + 10 pp (contract may set a rate of at least 3× the legal interest rate) | 12.40%1 Jul – 31 Dec 2026 · Service Public | €40 per invoice | Default: 30 days after receipt of goods or servicesMax: 60 days from invoice date, or 45 days end of month | Code de commerce, Arts. L441-10, D441-5Service Public Entreprendre: payment terms and late penalties |
| Germany | EU | Basiszinssatz + 9 pp | 10.52%1 Jul – 31 Dec 2026 · base rate 1.52% + 9 pp | €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | BGB §§ 247, 286, 288Deutsche Bundesbank: base rate from 1 July 2026BGB § 288 (gesetze-im-internet.de) |
| Ireland | EU | ECB rate + 8 pp | 10.40%1 Jul – 31 Dec 2026 · DETE | €40 / €70 / €100 by debt size | Default: 30 daysMax: 60 days; public bodies 30 days | European Communities (Late Payment in Commercial Transactions) Regulations 2012 (S.I. 580/2012)Department of Enterprise: late payment interest rateDepartment of Enterprise: compensation for recovery costs |
| Italy | EU | ECB reference rate + 8 pp (+ 4 pp extra for agri-food products) | 10.40%1 Jul – 31 Dec 2026 · ECB 2.40% + 8 pp | €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | D.Lgs. 231/2002, Arts. 4–6D.Lgs. 231/2002 (Normattiva)ECB key interest rates |
| Netherlands | EU | ECB rate + 8 pp | 10.40%From 1 Jul 2026 · Rijksoverheid | At least €40 per invoice | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | Burgerlijk Wetboek, Arts. 6:96, 6:119aRijksoverheid: statutory interest rates |
| Norway | Europe (non-EU) | Norges Bank policy rate + at least 8 pp | 12.25%1 Jul – 31 Dec 2026 · Finanstilsynet | NOK 430 per invoice (H2 2026) | Default: 30 daysMax: 60 days (longer if expressly agreed and not grossly unfair) | Forsinkelsesrenteloven (Late Payment Interest Act)Finanstilsynet: late payment interest and compensation from 1 July 2026 |
| Poland | EU | NBP reference rate + 10 pp | 13.75%1 Jul – 31 Dec 2026 · M.P. 2026 item 642 | €40 / €70 / €100 (in PLN) by debt size | Default: 30 daysMax: 60 days; public bodies 30 days | Act of 8 March 2013 on counteracting excessive delays in commercial transactionsMonitor Polski 2026 item 642 (official notice) |
| Portugal | EU | ECB rate + 8 pp | 10.40%1 Jul – 31 Dec 2026 · ECB 2.40% + 8 pp (Aviso 16623/2026/2) | At least €40 per invoice | Default: 30 daysMax: 60 days | Decreto-Lei 62/2013; Código Comercial, Art. 102ECB key interest rates |
| Romania | EU | BNR reference rate + 8 pp | See source | €40 (in RON) per invoice | Default: 30 daysMax: 60 days; public bodies 30 days | Government Ordinance 13/2011, Art. 3; Law 72/2013National Bank of Romania: interest rates |
| Spain | EU | ECB rate + 8 pp | 10.40%1 Jul – 31 Dec 2026 · BOE resolution of 30 June 2026 | €40 per invoice | Default: 30 daysMax: 60 days | Ley 3/2004, Arts. 4, 7, 8BOE-A-2026-14327: late payment rate for H2 2026Ley 3/2004 (BOE consolidated text) |
| Sweden | EU | Riksbank reference rate + 8 pp | 10.00%1 Jul – 31 Dec 2026 · reference rate 2.00% + 8 pp | SEK 450 per invoice | Default: 30 daysMax: 60 days (longer if not grossly unfair) | Räntelag (1975:635), § 6Sveriges Riksbank: reference rate |
| Switzerland | Europe (non-EU) | Fixed 5% a year | 5.00%Fixed by statute | None (proven damages only) | Default: None; default starts on the agreed date or after a reminderMax: No statutory cap | Code of Obligations (OR/CO), Arts. 102–106Code of Obligations (Fedlex) |
| Turkey | Europe (non-EU) | Set each January by the Central Bank (CBRT) for supplies of goods and services between merchants | 43.00%From 1 Jan 2026 · CBRT | TRY 2,020 minimum (2026) | Default: 30 days after invoiceMax: 60 days (longer if agreed, except where the creditor is an SME or farmer) | Turkish Commercial Code (TTK) No. 6102, Art. 1530CBRT: default interest rate and minimum compensation under TTK Art. 1530 |
| United Kingdom | Europe (non-EU) | Bank of England base rate + 8% | 11.75%Debts late from 1 Jul 2026 · base rate 3.75% + 8% | £40 / £70 / £100 by debt size | Default: 30 daysMax: 60 days (longer if not grossly unfair); public bodies 30 days | Late Payment of Commercial Debts (Interest) Act 1998GOV.UK: charging interest on commercial debtAct 1998, s. 5A (legislation.gov.uk)Bank of England: Monetary Policy Summary, June 2026 |
| United States | Americas | No federal B2B rate; set by contract and state law (prompt payment acts, usury caps) | Varies by state · federal agencies pay 4.75% (H2 2026) | None at federal level | Default: Contract; federal agencies 30 daysMax: No federal cap for private B2B | Prompt Payment Act, 31 U.S.C. ch. 39 (federal government payments only); state statutesU.S. Treasury: Prompt Payment interest rate |
How to calculate late payment interest
Statutory interest is simple interest charged per day: invoice amount × annual rate × days late ÷ 365. For a €5,000 invoice paid 45 days late in Germany (10.52% in H2 2026), that is 5,000 × 0.1052 × 45 ÷ 365 = €64.85, plus the €40 fixed compensation.
- Find the due date: the agreed term, or the statutory default (often 30 days).
- Look up the reference rate for the half-year in which the payment became late.
- Add the statutory margin to get the annual rate.
- Multiply by the amount and the days late, then divide by 365.
- Add any fixed compensation per invoice.
Skip the arithmetic with our late payment interest calculator or the late payment fee calculator. Our guide to invoice late fees explains how to word the clause on your invoices.
Methodology and sources
We read the statute and the official publication of the reference rate for each country: legislation databases, ministries and central banks. A current rate appears only when an official body publishes it for the period; we never derive a figure from unofficial sources. Countries with no reliable official source were left out rather than estimated. Cells marked “see source” need the linked source for the exact value.
The table covers commercial (B2B) transactions. Public authorities, consumers and some sectors follow different rules. This page is general information, not legal advice. Rates were last verified in October 2026.
Sources
- European Union (minimum): Directive 2011/7/EU (EUR-Lex)
- European Union (minimum): ECB key interest rates
- Germany: Deutsche Bundesbank: base rate from 1 July 2026
- Germany: BGB § 288 (gesetze-im-internet.de)
- France: Service Public Entreprendre: payment terms and late penalties
- Spain: BOE-A-2026-14327: late payment rate for H2 2026
- Spain: Ley 3/2004 (BOE consolidated text)
- Italy: D.Lgs. 231/2002 (Normattiva)
- Italy: ECB key interest rates
- Netherlands: Rijksoverheid: statutory interest rates
- Belgium: Law of 2 August 2002 (Justel)
- Austria: OeNB: reference interest rates (Basiszinssatz)
- Austria: UGB § 456 (RIS)
- Ireland: Department of Enterprise: late payment interest rate
- Ireland: Department of Enterprise: compensation for recovery costs
- Portugal: ECB key interest rates
- Poland: Monitor Polski 2026 item 642 (official notice)
- Romania: National Bank of Romania: interest rates
- Sweden: Sveriges Riksbank: reference rate
- Denmark: Danmarks Nationalbank: rate increase of 11 June 2026
- Denmark: Renteloven (Retsinformation)
- Finland: Bank of Finland: reference rate and penalty interest 1.7–31.12.2026
- Norway: Finanstilsynet: late payment interest and compensation from 1 July 2026
- Switzerland: Code of Obligations (Fedlex)
- United Kingdom: GOV.UK: charging interest on commercial debt
- United Kingdom: Act 1998, s. 5A (legislation.gov.uk)
- United Kingdom: Bank of England: Monetary Policy Summary, June 2026
- Turkey: CBRT: default interest rate and minimum compensation under TTK Art. 1530
- United States: U.S. Treasury: Prompt Payment interest rate
- Canada: Interest Act (Justice Laws)
- Canada: Federal Prompt Payment for Construction Work Act
Frequently asked questions
- What is the statutory late payment interest rate in the EU in 2026?
- Under Directive 2011/7/EU, the minimum is the ECB reference rate plus 8 percentage points. The reference rate for 1 July to 31 December 2026 is the ECB main refinancing rate on 1 July 2026, 2.40%, so the EU floor is 10.40%. Member states may set a higher margin.
- How much late payment interest can I charge in the UK?
- Under the Late Payment of Commercial Debts (Interest) Act 1998 you can charge Bank of England base rate plus 8% a year, using the base rate in force on 30 June or 31 December before the payment fell due. You can also claim a fixed sum of £40, £70 or £100 per invoice.
- Is the €40 late payment compensation per invoice?
- Yes. The Directive gives a business creditor at least €40 for each late invoice as compensation for recovery costs. It is due automatically, without a reminder, and comes on top of statutory interest. Reasonable recovery costs above €40 can also be claimed.
- Do I need a late fee clause in my contract to charge statutory interest?
- In the EU and the UK, no: statutory interest applies by law when the agreed or default payment term passes. A clear clause on your invoice still helps, and some countries let parties agree a different rate as long as it is not grossly unfair to the creditor.
- Can I use the data on this page?
- Yes. The dataset is free to use under the Creative Commons Attribution 4.0 licence (CC BY 4.0). Credit Online Receipt Generator and link to this page. Always check the linked official source before relying on a rate in a legal claim.