Section 7
Statutory text (Thai original)
บวกด้วยอัตราเพิ่มร้อยละสองต่อปี ถ้าเจ้าหนี้อาจจะเรียกดอกเบี้ยได้สูงกว่านั้นโดยอาศัยเหตุอย่างอื่นอันชอบด้วยกฎหมาย ก็ให้คงส่งดอกเบี้ยต่อไปตามนั้น ห้ามมิให้คิดดอกเบี้ยซ้อนดอกเบี้ยในระหว่างผิดนัด การพิสูจน์ค่าเสียหายอย่างอื่นนอกจากนั้น ให้พิสูจน์ได้ มาตรา ๒๒๔/๑[8] ถ้าลูกหนี้มีหน้าที่ผ่อนชำระหนี้เงินเป็นงวด และลูกหนี้ผิดนัดไม่ชำระหนี้ในงวดใด เจ้าหนี้อาจเรียกดอกเบี้ยในระหว่างเวลาผิดนัดได้เฉพาะจากต้นเงินของงวดที่ลูกหนี้ผิดนัดนั้น ข้อตกลงใดขัดกับความในวรรคหนึ่ง ข้อตกลงนั้นเป็นโมฆะ
Verbatim from the Royal Gazette / Office of the Council of State
English translation
Whenever interest is to be paid, and the rate is not fixed by a juristic act or by an express provision in the law, it shall be seven and a half per cent per year.
This English translation is provided for reference only and has not yet been firm-verified — always rely on the Thai original.
Firm annotation
Section 7 is part of Book 1 (General Principles) 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
For lawyers: always check whether the obligation arose before or after 11 April 2021. For pre-2021 debts, courts may apply 7.5% for the period before that date and 3% thereafter. Draft contracts should specify a rate expressly to avoid this default. For laypeople: if you lend money without agreeing on an interest rate, the borrower owes you only 3% per year; to earn more you must put the rate in writing.
Legislative history
The original CCC rate was 7.5 percent per year. Emergency Decree on Amendments to the Civil and Commercial Code B.E. 2564 (in force 11 April 2021) reduced the statutory rate to 3 percent per year and added a Royal Decree review mechanism. Practitioners must distinguish the old 7.5% rate (applicable to obligations arising before 11 April 2021) from the current 3% rate.
Frequently asked questions
What interest rate applies if my loan contract is silent on the rate?
Under section 7, the statutory rate of 3 percent per year applies (following the Emergency Decree of B.E. 2564, in force from 11 April 2021). Before that date the rate was 7.5 percent. Always specify the rate in writing if you wish to charge more.
Can the 3 percent statutory rate be changed in the future?
Yes. The amended section 7 expressly allows the rate to be raised or lowered by Royal Decree to reflect economic conditions. The Ministry of Finance must review the rate ordinarily every three years, benchmarking it against the average of commercial bank deposit and lending rates.