Collection tool
Calculate late-payment interest with your own inputs
Enter the principal, annual rate, days and calculation basis. No legal rate is prefilled because it may not apply to your debt or period.
- Simple interest
- Editable annual rate
- 365, 360 and 366-day bases
Calculation
Four inputs and a transparent formula
Use the rate and day count required by the contract, rule, decision or period you are applying.
- Interest
- €0.00
- Principal plus interest
- €10,000.00
The tool does not decide which rate or dates apply. Check the legal or contractual source for your case.
Method
Simple interest with no hidden rate
The rate is an annual percentage. The days and year basis must follow the same day-count convention.
Interest is not compounded, and collection costs, compensation and other amounts are not added.
Interest = principal × (annual rate ÷ 100) × days ÷ year basis
Document the collection