มาตรา 224 — Interest on damages
Statutory text (Thai original)
แห่งประมวลกฎหมายแพ่งและพาณิชย์ซึ่งแก้ไขเพิ่มเติมโดยพระราชกำหนดนี้ ให้ใช้แก่การคิดดอกเบี้ยผิดนัดที่ถึงกำหนดเวลาชำระตั้งแต่วันที่พระราชกำหนดนี้ใช้บังคับ แต่ไม่กระทบกระเทือนถึงการคิดดอกเบี้ยผิดนัดในระหว่างช่วงเวลาก่อนที่พระราชกำหนดนี้ใช้บังคับ
Verbatim from the Royal Gazette / Office of the Council of State
คำแปลภาษาอังกฤษ
A money dent bears interest during default seven and half percent per annum. If the creditor can demand higher interest on any other legitimate ground, this shall continue to be paid. Interest for default shall not be paid upon interest. Proof of further damage is admissible.
This English translation is provided for reference only and has not yet been firm-verified — always rely on the Thai original.
Firm annotation
Section 224 is part of Book 2 (Obligations) of the Thai Civil and Commercial Code. This entry is awaiting firm-authored commentary; the statutory text above is verbatim from the Office of the Council of State (OCS Krisdika) Thai source, with the English translation from the FAO/UN FAOLEX repository. Always rely on the Thai original for legal proceedings.
Why this matters in practice
Lawyers: For any judgment or settlement involving default interest, use the current floating rate (BOT policy rate + 2%) for periods from 11 April 2021 onward; apply the old 7.5% only to pre-reform periods. Where a contract specifies a higher legitimate rate, that rate continues. Confirm the current BOT policy rate before each filing. Laypersons: If someone owes you money and is late paying, interest runs automatically at the current legal rate — you do not need a separate agreement. However, interest cannot be charged on top of unpaid interest.
Legislative history
The original section 224 set default interest at a flat 7.5% per annum — a rate unchanged for decades. Emergency Decree on Revision of Interest Rate in Obligations B.E. 2564 (2021), in force 11 April 2021, replaced this with a floating mechanism tied to the Bank of Thailand policy rate plus 2% per annum. The old 7.5% flat rate is outdated and no longer applies to default interest accruing on or after 11 April 2021.
Supreme Court decisions interpreting this section
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Supreme Court Judgment No. 8168/2551 (2008)
Section 224 sets only a minimum default rate; where a creditor has a legitimate higher rate under contract or statute, that higher rate governs.
Bank K had the right under the Commercial Banking Act and Bank of Thailand regulations to charge interest at rates higher than the section 224 statutory default rate. When the plaintiff (as assignee of the bank's loan assets) charged interest at the rates the bank was entitled to charge, the Court confirmed that section 224 does not cap interest where a creditor has a legitimate contractual or regulatory basis for a higher rate — the higher rate continues.
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Supreme Court Judgment No. 6136/2551 (2008)
A contractual damages debt (loss of use) bears statutory default interest under section 224 from the moment the debtor falls into default.
The plaintiff's claim for loss of use (loss of benefit) arising from the defendant's breach of contract was a damages debt. The Court confirmed that once the defendant was in default, section 224 applied and the plaintiff could claim default interest at the statutory rate on the principal amount of that loss-of-use damages sum from the date of default.
Curated decisions with case numbers verified against the Supreme Court database. English renderings are the firm's editorial translation for study.
Frequently asked questions
What is the current rate of default interest under section 224?
Since 11 April 2021 (when Emergency Decree B.E. 2564 took effect), the statutory default interest rate is no longer the old flat 7.5% per annum. It is now a floating rate equal to the Bank of Thailand policy interest rate plus 2% per annum. The rate therefore changes whenever the BOT policy rate changes. The old 7.5% applies only to default interest periods before 11 April 2021.
Can interest be charged on top of unpaid interest under section 224?
No. Section 224 expressly prohibits charging default interest on accrued interest (compound interest). However, the creditor may still prove and claim actual damage exceeding the statutory default interest rate.