Late Payment Interest Calculator

Clients paying late? Calculate the interest charges on overdue invoices based on your agreed terms or statutory rates. Professionalize your follow-ups with clear data.

Late Interest Calculator

Common rates are 12%, 18%, or MSME statutory rates (3x RBI bank rate).

The Legal Context

In your freelance contract, you should always specify a late payment interest clause. If you are registered under the MSME Act, you are entitled to interest at 3 times the bank rate notified by the RBI if a buyer delays payment beyond 45 days.

Interest = Principal × Rate/365 × Days Late

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Frequently Asked Questions about Late Payment Interest Calculator