Calculate the base interest rate – fast and up to date. Determine the interest on your claims with our base interest rate calculator. Choose between consumer and commercial business as the basis for the calculation method..
The FORIS base interest calculator facilitates the precise calculation of interest claims. It not only enables the determination of default interest on the basis of a constant interest rate, but also allows the specification of an alternative, dynamic or static interest rate.
Interest on arrears is composed of the current prime rate and a surcharge. The base interest rate is generally set semi-annually by the Deutsche Bundesbank on January 1 and July 1. The amount of the surcharge depends on whether the debtor is a private individual or a businessman. The current prime rate can be viewed at the Deutsche Bundesbank.
For legal transactions with consumers, the default interest rate shall be 5 percentage points above the base interest rate.
This includes all transactions that entrepreneurs or merchants conclude among themselves for their business operations.
The decisive factor for the amount of the default interest is when the commercial transaction was concluded.
Continuing obligations are, for example, contracts with recurring individual services extending over a longer period of time (e.g. service contracts, rental agreements, service contracts, etc.).
Here, too, the relevant date is when the commercial transaction was concluded. For contracts concluded by 28/07/2014, the legislator has provided a transitional period of two years with regard to the time of performance.
The following formula can be used for manual calculation of default interest:
Invoice amount in € x (base interest rate + X %) x (days in arrears / 365*) = interest on arrears
*In the case of leap years, the calculation basis is 366 days, while 360 days are used for commercial calculations.