Iceland Statutory default interest (dráttarvextir)
Iceland Statutory default interest (dráttarvextir) is 15.5 percent, in force since 1 Jul 2026. Last checked against the official source on 10 Aug 2026.
Iceland's default interest under lög nr. 38/2001: the Central Bank's collateralised-lending base plus a 7-point surcharge, published monthly by Seðlabanki Íslands — 15.50% from 1 July 2026.
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| Current value | 15.5 percent |
|---|---|
| In force from | 2026-07-01 |
| Official source | Lög nr. 38/2001 um vexti og verðtryggingu, 6. gr. og 10. gr.; Seðlabanki Íslands, Tilkynning um dráttarvexti og vexti nr. 06/2026 (19 June 2026): 'Grunnur dráttarvaxta 8,50% / Vanefndaálag 7,00% / Dráttarvextir 15,50%' |
| Last verified | 2026-08-10 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
General default interest on all ISK money claims from the due date, civil and commercial: grunnur dráttarvaxta (the nominal rate on Central Bank collateralised loans to credit institutions) plus the 7-point vanefndaálag surcharge, 'nema um annað sé samið' (unless otherwise agreed, 6. gr. 2. mgr.). Seðlabanki publishes the total monthly, at least a week before the first of each month; each tilkynning stays in force until replaced. THE BASE IS NOT THE HEADLINE POLICY RATE: it is the collateralised-lending rate (8.50% at this fixing), not the 7-day key deposit rate — deriving from the policy-rate series would be wrong. The same announcement also fixes almennir vextir (general interest, 4. gr.: 8.35% unindexed / 4.35% indexed) and damages-claim interest (8. gr.: 5.57% = two-thirds of the 4. gr. rate). RETRIEVAL: sedlabanki.is is a Blazor SPA that renders empty to fetchers — pull the signed PDF via /library/?itemid=…, found by searching 'tilkynning um dráttarvexti nr. NN/YYYY'; announcements are numbered sequentially, not by month. Later notices (nr. 07/08 2026) exist but were not retrievable this pass — 15.50% is the last primary-confirmed value; re-verify monthly.
Get it programmatically
curl https://euroref.dev/v1/is/statutory-interest
# $0.005 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/is/statutory-interest/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/is/statutory-interestOther Iceland series: Central Bank of Iceland key interest rate · Virðisaukaskattur (VSK / VAT) standard rate · VAT registration threshold · General statutory minimum wage (none — structural null) · Public holidays (frídagar og helgidagar) · CPI inflation (vísitala neysluverðs, twelve-month change) · Tekjuskattur lögaðila · Withholding tax rates · Tekjuskattur og útsvar einstaklinga · Statutory social-insurance contributions · Central Bank of Iceland reference exchange rates
The same figure elsewhere: Ireland · Italy · Latvia · Lithuania · Luxembourg · all 34