Late payment interest calculator
A business client that pays late owes statutory interest: in the EU the ECB reference rate plus 8 points, 10.40% a year from July to December 2026; in the UK Bank Rate plus 8 points, 11.75%. You can also claim EUR 40, or GBP 40 to 100, per invoice.
EU statutory interest a year, July to December 2026: the ECB rate of 2.40% on 1 July plus 8 points.
Interest on a late invoice
Estimate- Interest so far
- EUR 29.63
- Fixed compensation
- EUR 40
- Days late
- 52
- Total owed
- EUR 2,069.63
- July to December 2026
- 10.40% ECB 2.40% + 8 points, 52 days
EUR 0.57 a day from now on. Simple interest on actual days over 365. Your country may add points or use its own base rate: see below.
Reference rates read on the ECB and Bank of England pages on 22 October 2026. Business clients only.
Reminder email
SubjectReminder: my invoice for EUR 2,000
Hello, A quick reminder that my invoice for EUR 2,000 was due on 31 August 2026. If the payment is already on its way, thank you, and please ignore this note. If anything is missing on your side, like a purchase order number or different bank details, tell me and I will sort it out. Thank you
Names stay on this page. They are not sent anywhere or put in the page link.
Worked example
On EUR 2,000 paid 52 days late, EU statutory interest at 10.40% a year comes to EUR 29.63, plus EUR 40 fixed compensation.
On GBP 2,000 paid 52 days late, UK statutory interest at 11.75% a year comes to GBP 33.48, plus GBP 70 fixed compensation.
On EUR 2,000 paid 90 days late, EU statutory interest at 10.15% then 10.40% a year comes to EUR 50.88, plus EUR 40 fixed compensation. June takes the ECB rate on 1 January (2.15%), July and August the rate on 1 July (2.40%).
The rules we use
- EU rate
- ECB reference rate on 1 January or 1 July, plus at least 8 pointsDirective 2011/7/EU, Articles 2 and 4
- ECB rate used
- 2.15% for January to June 2026, 2.40% for July to December 2026ECB key interest rates
- EU fixed compensation
- At least EUR 40 per late invoice, plus reasonable recovery costsDirective 2011/7/EU, Article 6
- EU payment term
- 30 days after the invoice if the contract sets none; business terms over 60 days only if agreed and not grossly unfairDirective 2011/7/EU, Article 3
- Germany
- Base rate (Basiszinssatz) plus 9 points between businesses, EUR 40 per invoiceGerman Civil Code, section 288
- France
- ECB rate plus 10 points, at least three times the legal rate, EUR 40 per invoiceFrench Commercial Code, Article L441-10
- UK rate
- Bank Rate on 31 December or 30 June before interest starts, plus 8 pointsRate of Interest (No. 3) Order 2002, Article 4
- Bank Rate used
- 3.75% since 18 December 2025, so 11.75% for debts late in 2026Bank of England, Bank Rate history
- UK fixed compensation
- GBP 40 under GBP 1,000, GBP 70 under GBP 10,000, GBP 100 from GBP 10,000Act of 1998, section 5A
How the interest is counted
Interest runs from the day after the due date to the day you are paid, as simple interest on the unpaid amount: amount times the yearly rate times days late, divided by 365.
In the EU each half-year takes its own reference rate, so a debt late across 1 July uses two rates. In the UK the rate fixed on the day interest starts runs until the debt is paid.
Where a country rule differs
The Directive sets a floor. Countries may go higher, and the law of your contract decides. Germany adds 9 points to its own base rate, the Basiszinssatz, for business debts, with EUR 40 per invoice. France adds 10 points to the ECB rate and never less than three times the legal interest rate, with EUR 40 per invoice.
Countries outside the euro area, like Poland, Czechia, Hungary or Sweden, use their own central bank's rate and margin, and the amount is in their currency. Check your country's rule before you send a claim.
A contract can set its own late interest. In the UK, statutory interest does not apply if the contract gives a substantial remedy for late payment. The rules here are for business clients only: consumers have different rules.
Asking politely first
Most late invoices are a missed email or a missing purchase order number. A friendly note a few days after the due date gets most of them paid. Ask for a date in the second note. Mention the interest only in the last one, and only if you are ready to claim it.
Questions
What is the late payment interest rate in the EU?
At least the ECB reference rate plus 8 points. The ECB main refinancing rate was 2.40% on 1 July 2026, so the floor is 10.40% a year from July to December 2026. Germany, France and countries outside the euro area use their own rules.
What is the UK statutory interest rate for late payment?
Bank Rate on the last reference date plus 8 points. Bank Rate has been 3.75% since 18 December 2025, so it is 11.75% a year for debts that became late in 2026.
How much fixed compensation can I claim?
In the EU at least EUR 40 per late invoice. In the UK GBP 40 for a debt under GBP 1,000, GBP 70 under GBP 10,000 and GBP 100 from GBP 10,000.
When does an invoice count as late?
After the due date in the contract. If none was agreed, 30 days after the client gets the invoice or the work is delivered, whichever is later.
Is the reminder email sent from this page?
No. The page writes the text and you copy it into your own email. Names stay on the page and are not sent anywhere.
Not tax, legal or financial advice. Rules change and your case may differ; check with the authority linked above or an accountant before you act. Terms
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