Late Payment Interest Calculator
Work out the interest on an overdue invoice before you send a reminder. Use the rate in your contract or invoice terms.
How it works
Interest = amount × yearly rate × days late ÷ 365 ÷ 100. An invoice of 20,000 that is 45 days late at 18% a year has about 443.84 of interest.
Questions
Can I always charge late payment interest?
It depends on your contract and local rules. Show your late payment terms on the invoice, and ask an adviser if you are unsure.
What rate should I use?
Use the rate you agreed with your client. This calculator does not suggest one.
Does it compound?
No. It uses simple interest for the days entered.
Results are estimates for planning. They are not tax, legal or financial advice.
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