Definition
Legal interest is applied as compensation for damages when the debtor fails to pay and no specific rate has been agreed upon. It also serves as a reference for legal regulations or agreements in contracts.
Further information
This type of interest rate is set in the General State Budget Law, following the trend of financial markets. Between 1984 and 1998, it was equal to the basic interest rate of the Bank of Spain if it was not established in the budget.
Related concepts
Links to data tables
Selection of tables
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Legal interest rates, Euribor, Mibor, and other official reference rates.
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Legal interest rates, Euribor, Mibor, and other official reference rates.
Update date: January 2025
