Payment on Due Date (PODD) Interest Rate

Interest rate applicable to Government of Canada's overdue suppliers accounts and accounts receivable

This interest rate is to be used by departments to calculate the interest on the Government of Canada's overdue suppliers accounts for the month of:

December 2006 (the rate is 7.50 %)

This rate is based on the average Bank of Canada discount rate for the previous month plus 3 %. This same rate is also used by Departments of the Government of Canada to charge interest on overdue accounts receivable under the Interest and Administrative Charges Regulations.

Click here to see previous PODD Interest Rates.