NBP Reference Rate 2026 and Statutory Interest

Where Things Stand in 2026

Poland's statutory interest rate for late commercial payments is tied directly to the National Bank of Poland (NBP) reference rate. After more than two years frozen at 5.75%, the Monetary Policy Council (MPC) cut rates six times between May 2025 and March 2026, taking the reference rate down to 3.75%. As a result, the statutory interest rate for B2B late payments fell in step, and now stands at 13.75% per annum as of the 1 July 2026 semi-annual fixing (the NBP reference rate plus the statutory 10 percentage points).

For the full picture — including the current rate table, the legal basis, calculation formulas, and a free calculator — see our complete guide to statutory interest for late payment. This post covers what actually changed, the cut-by-cut timeline, and how to prepare if rates move again.

What Changed: the MPC's 2025-2026 Cutting Cycle

The freeze that had held the reference rate at 5.75% since October 2023 ended in May 2025. Over the following ten months, the Council cut rates six times:

• 8 May 2025 — cut to 5.25%
• 3 July 2025 — cut to 5.00%
• 4 September 2025 — cut to 4.75%
• 6 November 2025 — cut to 4.25%
• 3 December 2025 — cut to 4.00%
• 5 March 2026 — cut to 3.75% (the most recent move as of this writing)

Each cut fed through into the semi-annual statutory interest fixing for commercial transactions: 15.75% in H1 2025, 15.25% in H2 2025, 14.00% in H1 2026, and 13.75% from 1 July 2026 (H2 2026).

Has the MPC Cut Rates Further Since March 2026?

No. The Council held rates steady at every meeting from March through July 2026. Market commentary at the time of writing does not expect a dramatic move before the end of the year — most forecasts point to stability around 3.75%, with at most a modest further cut into 2027 if inflation keeps trending toward the NBP's target. That is a forecast, not a fact: the rate that legally applies is always the one last announced, not the one analysts expect next.

What the Rate Change Actually Means for Your Invoices

Here is a concrete example. Suppose you have an unpaid B2B invoice for PLN 10,000 that has been overdue for 60 days.

At last year's rate of 15.75% per annum, the interest accrued would have been approximately:

PLN 10,000 × 15.75% ÷ 365 × 60 = PLN 258.90

At today's rate of 13.75% per annum, the same invoice accrues:

PLN 10,000 × 13.75% ÷ 365 × 60 = PLN 226.03

The difference is about PLN 33 on a single PLN 10,000 invoice - small in isolation. But for a business carrying PLN 500,000 in chronic overdue receivables, the 2 percentage point drop over the cycle costs roughly PLN 1,644 in reduced interest per 60-day period. Worth tracking if you use interest claims as a recovery lever.

Use our statutory interest calculator to compute the exact amount for your specific invoice.

Lower Rates, Smaller (But Still Real) Leverage for Creditors

The 13.75% statutory rate is actually the lowest Poland has seen since early 2022, before the NBP's post-pandemic hiking cycle took the reference rate up toward its September 2022 peak of 6.75%. That means the automatic financial penalty on late-paying debtors is real but smaller than it was in 2025. It still comfortably beats what a debtor would earn leaving the same cash in a bank account, so it remains a legitimate argument in your payment demands - just a slightly less forceful one than a year ago.

If rates fall further, that pressure eases a little more. That is one more reason to act on overdue invoices now rather than waiting.

How to Prepare for the Next Rate Change

Rate changes affect statutory interest automatically — you do not need to update your contracts. The rate that applies is the one in force on the day the debt becomes overdue, and it applies from that day forward (using the rate for each period if rates change mid-recovery). Here is what to do:

1. Recalculate periodically if you have long-running overdue invoices. If an invoice has been overdue across more than one semi-annual fixing, you need to split the calculation across rate periods. Keep accurate records of when each invoice became overdue.
2. Issue interest notes promptly. You can issue an interest note at any time, and the accrued amount up to the issue date is locked in at whatever rate applied during that period. Download our ready-to-use interest note template to send one today.
3. Do not wait on formal demands. The 40/70/100 EUR fixed compensation you are entitled to under Article 10 of the late payment Act is independent of the interest rate. It does not change when the MPC meets. Claim it now regardless — use our compensation calculator to find out the exact amount.
4. Automate your reminders. Rate changes are irrelevant if you are recovering invoices within 30 days of the due date. At that timescale, the difference between rate periods is negligible. The real variable is speed of recovery, not rate level. For a step-by-step action plan, see our guide: client not paying invoice — what to do.

Checking the Current Rate

The NBP publishes the reference rate on its website following each MPC decision. The statutory interest rate for late commercial payments is always: NBP reference rate + 10 pp, refixed every six months. The rate for late payments in transactions involving public entities (where the debtor is a public authority) uses a different formula under the same Act — see the pillar guide for details.

For the latest figures and a step-by-step calculation guide, visit our statutory interest guide. For the exact zloty amount on any invoice, use the free statutory interest calculator.

Automatically Calculate and Claim What You're Owed

Terminovo calculates statutory interest at the correct rate for each overdue invoice and includes the amounts in your demand letters automatically — so you never miss a rate change or leave money on the table. See pricing or learn how it works.