Late Payment Interest Calculator
Statutory interest on overdue invoices.
Enter your values
ⓘ Live results
Results
- Total now due
- $4,944.17
- Interest accrued
- $74.17
- Daily interest
- $1.58
- Compensation fee
- $70.00
Quick answer
Late payment interest accrues daily on the overdue amount from the day after the due date.
Interest = amount × rate × days ÷ 365
How to use the Late Payment Interest Calculator
- 1Enter the unpaid invoice amount.
- 2Enter the interest rate in your terms or statute.
- 3Enter days past the due date.
Worked example
Using the values the calculator loads with:
Inputs
- Invoice amount4800 $
- Annual interest rate12 %
- Days overdue47
- Fixed compensation fee70 $
Results
- Total now due$4,944.17
- Interest accrued$74.17
- Daily interest$1.58
- Compensation fee$70.00
Frequently asked questions
Can I charge interest without saying so?
In many jurisdictions statutory interest applies even without a contract clause.
Does interest compound?
Statutory late payment interest is usually simple, not compound.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.