Late Payment Interest Calculator
Work out interest or a fee on an overdue payment.
Charging for a late payment
An overdue invoice can accrue interest or a late fee, and working out the correct amount means applying the agreed rate over the days it is late. This calculates the interest or fee on an overdue payment, so you can bill it accurately rather than guessing.
Enter the amount, rate and days overdue to see the charge.
Terms, and what the law allows
Charging late interest depends first on it being agreed — your payment terms or contract should state the rate and when it applies, since a fee you never specified is hard to enforce. Many places also have laws governing late-payment interest, sometimes setting a statutory rate businesses can charge on overdue commercial invoices even without a specific term, and sometimes capping what can be charged. So the enforceable amount depends on your terms and your local law. Beyond the money, a clear late-fee policy mostly works by encouraging prompt payment in the first place. This calculates the figure; whether and how much you can charge is a matter of your contract and local rules.
Questions & answers
Can I charge interest on a late payment?
Generally only if it was agreed in your terms or contract, though some regions set a statutory rate for overdue commercial invoices even without a specific term.
What determines the amount I can charge?
Your agreed terms and local law, which may set or cap late-payment interest. The enforceable figure depends on both.
Is anything uploaded?
No. The calculation happens in your browser.