Article 809. Interest on loan agreement.
1. Unless otherwise provided by a law or loan agreement, the lender shall have the right to receive from the borrower interest on the loan amount in the amounts and in the manner determined by the agreement. If there is no condition in the contract on the amount of interest, their size is determined by the lender’s place of residence, and if the lender is a legal entity, the bank’s interest rate (refinancing rate) on the day of payment of the borrower of the debt amount or its corresponding part is at its location. 2. Unless otherwise agreed, interest shall be paid monthly until the day on which the loan amount is repaid. 3. The loan agreement is assumed to be interest-free, unless expressly provided otherwise in it, in cases where: the contract has been concluded between citizens for an amount not exceeding fifty times the statutory minimum wage, and is not related to the entrepreneurial activity of at least one of the parties; according to the contract, the money is not transferred to the borrower, but other things determined by generic characteristics.
References to other articles of chapter 42. Loan and credit: