Penalty Interest Calculator
Calculate penalty interest on overdue debt based on the annual rate and number of days overdue. Determine total amount due including the original debt.
How to Use the Penalty Interest Calculator
- Enter the outstanding debt amount.
- Enter the annual penalty interest rate.
- Enter the number of days overdue.
- Click Calculate to see penalty and total due.
Cas d'utilisation
- •Calculating late payment penalties on invoices.
- •Estimating interest on overdue tax payments.
- •Determining total debt for legal proceedings.
- •Comparing penalty scenarios for debt negotiation.
Formule
Penalty = debt × (annual_rate / 100) × days / 365. Total due = debt + penalty.
Questions fréquemment posées
How is penalty interest calculated?
Penalty interest is typically calculated as a percentage of the outstanding debt per day, based on the annual rate divided by 365.
What is a typical penalty interest rate?
Legal penalty rates vary by country and contract. Common rates range from 0.1% per day to the Central Bank refinancing rate.
Can penalty interest be waived?
Yes, courts can reduce or waive penalty interest if it is disproportionate to the loss suffered by the creditor.