Example
If the first interest day is 2 January and the calculation date is also 2 January, one daily interest amount is included. The day count, rate dates and payment treatment are shown so you can compare with the creditor’s statement.
How the estimate works
The calculator applies simple interest to the remaining principal for each calendar day, using 365 days in an ordinary year and 366 in a leap year. It accrues interest through the selected calculation date; a principal payment reduces the balance after interest for its payment date. It does not compound interest or allocate a payment to fees or previously accrued interest.
Common questions
When does interest start?
For a debt with a due date fixed in advance in Norway, the Late Payment Interest Act says interest runs from the due date. If no due date was fixed in advance, the general rule is 30 days after the creditor sent a written payment demand. Check any special rule or agreement before selecting the first interest day.
What rates are built in?
The built-in Norway 2026 profile is 12.00% for 1 January–30 June and 12.25% for 1 July–31 December. Rates for other countries, contracts or years must be entered from the applicable official source.
How do partial payments work?
Enter only the amount that actually reduced principal and the payment date. The estimate applies interest to the opening principal for that date and reduces principal afterwards; it does not guess how the creditor allocated the payment.
Does this calculate collection fees or legal entitlements?
No. It estimates simple interest only. Contract terms, notice rules, business compensation, fees, limitations and claim-specific exceptions are not decided by this tool.
Scope and limits
A calculation aid, not a legal decision or demand for payment. The built-in statutory profile is Norway 2026 only. The user must select a legally correct first interest day, published rate periods and principal-reducing payment amounts. Other jurisdictions require their own verified rates. The tool excludes compounding, fees, standard compensation, tax claims, statutory exceptions and legal interpretation. Verify with the creditor, official rate source or a qualified adviser.