Late fee calculator
Enter the amount due, how many days late it is and how the fee is set. You get the fee and the total owed, after any grace days and caps. Check your contract or local law for what you may actually charge.
Runs in your browser: nothing you enter is sent anywhere.
How to use it
- Enter the amount due, the days late and any grace days.
- Choose the fee type and fill in the matching rate or flat amount.
- Add caps if the terms have them, and read the fee and total.
How it works
Days that count = days late − grace days, at least 0. Percent per day: amount × rate ÷ 100 × days that count. Percent per month: amount × rate ÷ 100 × the number of started 30-day periods. Flat: the fee once if at least one day counts. Then the fee is limited by the caps you enter.
Worked example
Amount 1,000, 10 days late, 3 grace days, 0.5% a day: 7 days count, so the fee is 1,000 × 0.005 × 7 = 35. A 3% cap limits it to 30, and the total is 1,030.
Tips
- A daily percent and a monthly percent grow differently: 0.5% a day is about 15% over 30 days, while 5% a month is charged once per started 30 days.
- Many agreements describe the fee as an annual rate; divide it yourself before entering a daily rate.
- To prorate a partial period, use the prorated rent calculator; for interest, the simple interest calculator.
Frequently asked questions
How is a late fee calculated?
For a percent per day: amount × rate × days that count. A 0.5% daily fee on 1,000 for 7 days is 35. A percent per month is charged for each started 30 days, and a flat fee is charged once.
What are grace days?
Days after the due date during which no fee is charged. They are subtracted from the days late, and the fee starts after them.
How do the caps work?
The fee is cut to the cap if it would be higher. If you fill in both caps, the lower resulting fee applies. With the default cap of 3% on 1,000, the fee cannot exceed 30.
Is this the legal maximum?
No. Late fees are limited by contracts and, in many places, by law, and the limits vary. This tool just does the arithmetic for the terms you enter.