Interest rates
Find interest rates for payments to the Receiver General for Canada.
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Bank rate
The Bank rate is used as the basis to calculate the payment on due date interest rate.
The current bank rate as set on March 13, 2025, is 3.00%.
Payment on due date
Government of Canada departments use the payment on due date interest rate to calculate the interest on overdue supplier accounts and to charge interest on overdue accounts receivable.
As per the Interest and Administrative Charges Regulations, the rate is based on the average Bank of Canada discount rate from the previous month plus 3%.
Note
The rate for August 2025 is 6.00%.
Previous payment on due date interest rates
| January | February | March | April | May | June | July | August | September | October | November | December | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 6.68 | 6.48 | 6.25 | 6.10 | 6.00 | 6.00 | 6.00 | 6.00 | n/a | n/a | n/a | n/a |
| 2024 | 8.25 | 8.25 | 8.25 | 8.25 | 8.25 | 8.25 | 8.04 | 7.94 | 7.75 | 7.53 | 7.37 | 7.00 |
| 2023 | 7.39 | 7.55 | 7.75 | 7.75 | 7.75 | 7.75 | 7.94 | 8.15 | 8.25 | 8.25 | 8.25 | 8.25 |
| 2022 | 3.50 | 3.50 | 3.50 | 3.73 | 4.03 | 4.25 | 4.73 | 5.33 | 5.75 | 6.33 | 6.58 | 7.00 |
| 2021 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 |
| 2020 | 5.00 | 5.00 | 5.00 | 4.21 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 |
| 2019 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
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