Late interest penalty
|8% per year (0,022% per day) on a 360-days year base*, but not less than contractual interest rate.
* ECB interest rate +8%, but not less than contractual interest rate.
ECB interest rate is the interest rate on the main refinancing operations (MRO), which provide the bulk of liquidity to the banking system. It might change twice a year (1st of January and 1st of July), the change will be announced in Ametlikud Teadaanded (Official Announcements).