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
Example: €1,000 outstanding at a hypothetical annual rate of 8%, for 30 days on a 365-day basis, gives €6.58 interest and €1,006.58 in total. Enter your own rate and days. If rates change between periods, calculate each period separately: this tool does not fetch legal rates or split dates automatically.
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
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