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Scale
Jan 1 to June 30, 2024
The new statutory interest rate applicable in the first half of 2024
Publié le 30 juin 2023 - Mise à jour le 27 décembre 2023 - Legal and Administrative Information Directorate (Prime Minister)
The statutory interest rates applicable in the first half of 2024 were set by an order published in Official Journal of 24 December 2023. They shall apply from 1er January 2024.
Legal interest rates are discounted every semester.
The first rate, the highest, concerns cases where a sum of money is due to an individual (the creditor is an individual), the second rate applies to other creditors (professional creditors in particular).
Debtor (who must) | Creditor (to whom the money is due) | Rate (1er semester 2024) | Rate (2e semester 2023) |
|---|---|---|---|
Individual | Individual | 8.01% | 6.82% |
Professional | Individual | 8.01% | 6.82% |
Individual | Professional | 5.07% | 4.22% |
Professional | Professional | 5.07% | 4.22% |
The statutory interest rate is used to calculate interest on money owed to a creditor in the event of late payment, particularly in banking, over-indebtedness, credit, divorce or business-to-business cases.
To calculate this amount, the amount due must be multiplied by the number of days late and by the applicable statutory interest rate over the period. The result is divided by 100 times the number of days in the year, which corresponds to the following formula: (sum due) x days late x statutory interest rate) / (365 x 100).
Reminder
when we talk about “individual”, we must understand any natural person who is not acting for professional purposes.
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