Statutory Interest Calculator
Enter the principal, period, and transaction type. The calculator instantly computes the statutory interest based on current rates.
What is statutory interest?
Statutory interest is the interest you may claim when an invoice is not paid on time. Under the EU Late Payment Directive (2011/7/EU), businesses can charge interest on overdue B2B invoices at the ECB refinancing rate plus 8 percentage points. For non-commercial transactions, each EU member state sets its own statutory rate under national law.
The interest is calculated as simple interest (not compounded) on a daily basis. The ECB reference rate is updated on January 1 and July 1 each year. For B2B transactions, interest accrues automatically from the day after the payment deadline, without any formal demand.
Current statutory interest rates
Overview of the ECB reference rate and EU B2B late payment interest rate by period.
| Period | ECB reference rate | B2B interest (ECB + 8%) |
|---|---|---|
| Jan 1, 2026 – present | 2.15% | 10.15% |
| Jul 1, 2025 – Dec 31, 2025 | 2.15% | 10.15% |
| Jan 1, 2025 – Jun 30, 2025 | 3.15% | 11.15% |
| Jul 1, 2024 – Dec 31, 2024 | 4.25% | 12.25% |
Source: European Central Bank. The reference rate is based on the ECB main refinancing rate, updated on January 1 and July 1.
How to calculate statutory interest: the formula
Interest = Principal × (Rate / 100) × (Days / 365)
Statutory interest is calculated as simple interest on a daily basis. Compound interest does not apply. The year always counts as 365 days.
Example: $10,000 for 30 days at 10.15% (B2B)
$10,000 × (10.15 / 100) × (30 / 365) = $83.42
Statutory interest: $83.42
When can you charge statutory interest?
Under the EU Late Payment Directive, interest on B2B invoices accrues automatically from the day after the agreed payment deadline. No formal demand is required. If no payment term is agreed, the default deadline is 30 days after receipt of the invoice or delivery of goods/services. The maximum contractual payment term is 60 days.
In addition to interest, creditors are entitled to a minimum of $40 in fixed compensation for recovery costs per overdue B2B invoice under the EU Directive. If actual collection costs exceed this amount, the creditor may claim the difference.
Frequently asked questions about statutory interest
Also calculate collection costs?
In addition to statutory interest, you can claim collection costs for late payments.
Want to get invoices paid faster?
Dunwise automates your entire accounts receivable follow-up. Every outstanding invoice gets called on schedule, with the right tone at the right time.