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Statutory interest - Croatia

1 How do you define “statutory interest” in your Member State?  Does your national law provide for statutory interest?

Yes. Statutory interest (zakonska kamata) is the interest rate that the debtor of a monetary obligation has to pay on an outstanding claim for a sum of money. Therefore, the debtor who fails to pay a monetary obligation also owes statutory interest, in addition to the principal amount.

2 If yes, what is the amount/rate and what is the legal basis for it?  If your national law provides for different rates of statutory interest, please indicate briefly the circumstances and conditions under which these rates apply.

The general law on statutory interest is the Civil Obligations Act (Zakon o obveznim odnosima) (Narodne Novine (NN; Official Gazette of the Republic of Croatia), No 35/05, 41/08, 125/11 and 78/15) - Articles 29-31. This Act applies unless otherwise specified for specific persons and specific relationships by means of special legislation. Pursuant to this Act, the default interest rate on debts arising from commercial contracts and contracts between a trader and a person governed by public law shall be determined on a semi-annual basis by increasing the average interest rate on loans authorised for a period of more than one year for non-financial corporations and calculated for the reference period prior to the current six-month period by five percentage points, and three percentage points in other relations.

The average interest rate for the reference period is determined by the Croatian National Bank (Hrvatska narodna banka), which must publish it on 1 January and 1 July in Narodne Novine, the Official Gazette of the Republic of Croatia.

The average interest rate used for calculating statutory interest rates for the current six-month period (from 1 January 2017 to 30 June 2017) is 4.68 %. Therefore, for the period from 1 January 2017 to 30 June 2017, the statutory interest rate on debts arising from commercial contracts and contracts between a trader and a person governed by public law is 9.68 %, and for other relations (e.g. relations arising from credit agreements and other civil law contracts, extracontractual relations - compensation, unjust enrichment) is 7.68 %.

The special regulation prescribing the statutory interest rate for certain debts is the Financial Business and Pre-Bankruptcy Settlement Act (Zakon o financijskom poslovanju i predstečajnoj nagodbi) (Narodne Novine (NN; Official Gazette of the Republic of Croatia), Nos 108/12, 144/12, 81/13, 112/13, 71/15 and 78/15). This Act is applied to payment delays in commercial transactions between entrepreneurs and entrepreneurs and persons governed by public law in which the person governed by public law is the debtor, which result in the supply of goods or providing of services for financial compensation. According to this Act, the statutory interest for delayed payments is the interest rate equal to the benchmark rate increased by 8 percentage points. The benchmark rate is equal to the average interest rate on loans authorised for a period of more than one year for non-financial corporations and calculated for the reference period prior to the current six-month period and decreased by three percentage points.

The average interest rate for the reference period is determined by the Croatian National Bank (Hrvatska narodna banka), which must publish it on 1 January and 1 July in Narodne Novine, the Official Gazette of the Republic of Croatia.

The benchmark rate used to calculate the statutory interest rates for the current six-month period (from 1 January 2017 to 30 June 2017) is 1.68 %. Therefore, for the period from 1 January 2017 to 30 June 2017, the statutory interest rate for payment delays in commercial transactions between entrepreneurs and entrepreneurs and persons governed by public law in which the person governed by public law is the debtor is 9.68 %.

3 If necessary, please give further information on how to calculate statutory interest (for example information on how to calculate the basic rate of statutory interest; whether 'interest on interest', i.e. capitalisation of interests, is applicable in your Member State, etc.).

The average interest rate for the reference period is determined by the Croatian National Bank (Hrvatska narodna banka), which must publish it on 1 January and 1 July in Narodne novine, the Official Gazette of the Republic of Croatia.

The Official Gazette of the Republic of Croatia, Narodne novine, can be accessed by clicking on the following link: Link opens in new windowhttps://narodne-novine.nn.hr/

4 Is it possible to get free online access to the legal basis mentioned above? If so, please provide the relevant links.

The Official Gazette of the Republic of Croatia, Narodne novine, can be accessed for free by clicking on the following link: Link opens in new windowhttps://narodne-novine.nn.hr/


The national language version of this page is maintained by the respective EJN contact point. The translations have been done by the European Commission service. Possible changes introduced in the original by the competent national authority may not be yet reflected in the translations. Neither the EJN nor the European Commission accept responsibility or liability whatsoever with regard to any information or data contained or referred to in this document. Please refer to the legal notice to see copyright rules for the Member State responsible for this page.

Last update: 25/03/2019