Interests Rates
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed.
Legal interest rates applicable to 1to semester 2023 have been fixed by an order published in Official Journal of 29 December 2022. The first rate, the highest, applies to cases where an amount of money is owed to an individual (the creditor is an individual), the second rate applies to other creditors (professionals in particular).
These rates are updated every six months. The statutory interest rate is used to calculate interest on money owed to a creditor in the event of late payment, in banking, over-indebtedness, credit, divorce or between professionals.
How does this affect your business?
- Rising interest rates increase borrowing costs. This could impact purchasing and investment decisions for both businesses and consumers
- Interest rates hold advantages for both borrowers and lenders. Fixed interest rates are attractive to borrowers who want to know exactly what each of their loan payments will be, without regard to market fluctuations.
- If interest rates rise, the borrower who has a fixed-rate mortgage is locked into the lower interest over the life of the loan instead of having to pay the higher interest rate of newer loans.
- If interest rates decrease, lenders have the advantage by making more money from their customers with higher-interest rate loans.
If you wish to find out more, do not hesitate to contact us via telephone
+33 (0) 1 53 93 94 20 or by mail at [email protected]. Our team of experts will happily assist you with any queries you might have.
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