The applicable default interest rate is the rate defined in the Civil Code. Default interest rates are defined for two client/lessee groups. One group comprises legal persons, being corporations, craft undertakings and sole traders, and the other rate (normally lower) applies to natural persons.
Statutory default interest rates are periodically revised and new rates apply as of the date the Croatian National Bank publishes the average interest rate. Default interest rate is calculated as the average interest rate plus 5% for the first lessee group (legal persons) and 3% for natural persons.
