The dynamics of inflationary processes on the money market brought to the fore the importance of the reference interest rate on the interbank market in relaunching the economy. The paper aims to analyze the impact of the interest rate on the intensity of the payment schemes for local agricultural producers. The analysis of the link between the reference interest rate and the intensity of the updated payment scheme at the date of the subsidy shows the increase or decrease in the borrowing costs of producers. The research carried out revealed that for agricultural producers, at the level of interest on loans paid in 2021, updated on the date of its granting (May 2022), the cost of the loan has increased by 12,28%. The main impact factors are the increase in the reference interest rate and the delay in the subsidy payment by the national agricultural paying authority. The research results are useful to the business environment and public institutions.