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Article 1
This Law shall govern the level of the rate and the method of calculation of the default interest that shall be paid by the borrower who is in default on payment.
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Article 2
In case the borrower is in default on payment, in addition to the principal, the borrower shall be in debt of the default interest on the debt amount until the date of payment, and at the rate defined by this Law.
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Article 3
The default interest rate, referred to in Article 2 of this Law, applied to the debt amount denominated in dinars, shall be determined annually, at the level of the key policy rate of the National Bank of Serbia, increased by eight percentage points.
