Section 80: Interest when no rate specified.

The Negotiable Instruments Act, 1881Central Act · Act 26 of 1881

When no rate of interest is specified in the instrument, interest on the amount due thereon shall, [notwithstanding any agreement relating to interest between any parties to the instrument], be calculated at the rate of [eighteen per centum] per annum, from the date at which the same ought to have been paid by the party charged, until tender or realization of the amount due thereon, or until such date after the institution of a suit to recover such a mount as the Court directs.

Explanation.-- When the party charged is the indorser of an instrument dishonoured by non-payment, he is liable to pay interest only from the time that he receives notice of the dishonour.

Where this provision sits

Act	The Negotiable Instruments Act, 1881
Section	80
Marginal note	Interest when no rate specified.
Jurisdiction	Central
Status	In force as published by the source
Judgments citing it	20

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

substituted, Act 30 of 1926. . Subs. by Act 30 of 1926, s. 2, for "except in cases provided for by the Code of Civil Procedure, s. 532".
substituted, Act 66 of 1988. . Subs. by Act 66 of 1988, s. 2, for "six per centum" (w.e.f. 30-12-1988).

Judgments that turned on this provision

CRP/280/2024 of RAJESH PARAKH Vs SATYANARAYANA BHANSALIHigh Court of Karnataka · 2025-12-15
APP/666/2004 of VIJAY B. MALANKAR Vs INDIAN OIL CORPN. LTD.Bombay High Court · 2014-06-11
Crl.Rev.Pet/3394/2006 of SATHYAN @ AYYAPPA SATHYAN Vs YOUSEFHigh Court of Kerala · 2006-09-27
SJ/558/2005 of pratap b. kapadia and anr Vs m/s mihir builders and orsBombay High Court · 2006-02-20
SJ/556/2005 of m/s hemant brothers Vs mrs mona vijay desai and orsBombay High Court · 2006-02-20
SJ/560/2005 of pratap b. kapadia and anr Vs shanti investments and orsBombay High Court · 2006-02-20

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