Penalty Interest Calculator

Use the penalty interest calculator to find out the amount of interest, if an invoice is paid e.g. one week late.

Penalty Interest Calculator


The penalty interest is when the payment is late days.

Using the Penalty Interest Calculator

Enter a date in the penalty interest calculator (e.g. the day after the due date of the invoice) where calculation begins and the date when the amount will be paid.

Penalty interest

The penalty interest is an interest that the debtor is liable to pay when the payment is overdue and not paid by the time required in the loan agreement. The current rate of penalty interest is 7 percentage points higher than the reference rate published biannually by the European Central Bank (Finnish Act 340/2002).

Penalty interest accrues from the day following the due date in terms of payments that have been given a due date. If no binding due date has been given, payment of interest begins 30 days after the date of dispatching the creditor's invoice or the day that the sum was demanded.

Sources and more information
  1. Wikipedia: penal interest
  2. Wikipedia: annual percentage rate

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