lisäkorkoa

Lisäkorko is an additional interest rate charged on top of the standard contract rate in Finnish lending and credit agreements. It refers to a supplemental charge that may be applied in special circumstances, such as late payments, default, or when a contract explicitly allows for penalty interest. The term is used in financial contracts, consumer credit, and some rental or service agreements, and is distinct from the ordinary interest rate agreed by the parties.

In practice, lisäkorko's amount and conditions are defined in the contract, and in some cases by applicable laws regulating interest and penalties. For consumer loans and credit, the law requires that any lisäkorko be clearly disclosed, reasonable, and proportionate to the damage or risk caused by the default. The rate may be fixed or variable, and may accrue from the date of delay until payment, sometimes with daily or monthly compounding.

Relation to other concepts: It is separate from the base rate; it is not automatically charged unless triggered by the contract. The related concept of viivästyskorko (late payment interest) is the common statutory form of such charges. Because rules vary, borrowers are advised to review the contract terms and applicable law to understand when lisäkorko may apply and how it is calculated.