How much late-payment interest is owed in Finland?
Statutory penalty interest on an overdue Finnish debt: the reference rate plus 7 points, half-year by half-year.
The overdue debt
What you enter stays on your device while you use this tool. Opening a shared link sends the settings in its address to HowToolbox to prepare the page.
Interest runs from the next day
Empty means today
Late-payment interest
€70.01
269 days late · €1,070.01 with the debt
Interest by rate period
- 1 Feb 2026–30 Jun 2026 · 9.5% · 150 d
- €39.04
- 1 Jul 2026–27 Oct 2026 · 9.5% · 119 d
- €30.97
Rules in force since 1 July 2026 (Finland).
Sources: Korkolaki 633/1982 (Finlex, ajantasainen); Suomen Pankki: Korkolain mukainen viitekorko ja viivästyskorot.
Checked 21 October 2026
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Statutory penalty interest on an overdue Finnish debt: the reference rate plus 7 points, half-year by half-year.
How to use
- Enter the overdue amount and its due date.
- Enter the payment date, or leave it empty to count up to today.
- Switch on the business rate when both sides are businesses. The interest appears at once, split by rate period.
How it works
When a debt in Finland is paid late and no other interest was agreed, the creditor can charge statutory late-payment interest (viivästyskorko) under the Interest Act (Korkolaki). The rate follows the Bank of Finland reference rate, which is set for each half-year. This tool applies only to Finnish law.
The yearly rate is the reference rate + 7 percentage points, or + 8 points when a business owes a business. Interest runs from the day after the due date through the payment day: interest = amount × rate × days ÷ 365, worked out separately for each half-year.
The rates come from the Bank of Finland's table of the reference rate and penalty interest rates. The Act does not fix a day count; this tool uses a 365-day year. A higher interest agreed in a contract, collection costs and reminder fees are not included.
Worked example
What is the Finnish non-commercial late interest on €1,000.00, due 31 Jan 2026 and paid 2 Mar 2026?
- €1,000.00 × 9.5 ÷ 100 × 30 ÷ 365 ≈ €7.81.
- €1,000.00 + €7.81 = €1,007.81.
€1,007.81
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Frequently asked questions
What is the reference rate?
The European Central Bank's main refinancing rate on the last day of the previous half-year, rounded up to the next half point. The Bank of Finland publishes it for January–June and July–December.
What if we agreed on another interest rate?
A penalty interest set in the contract can apply instead of the statutory rate; check your contract. This tool computes only the statutory rate.
Why can't I count far into the future?
The rate for a half-year is known only when it starts. Days after the newest published half-year have no rate yet.
Is the interest compounded?
No. Statutory late-payment interest is simple interest on the overdue amount.
Is the due date itself charged interest?
No. This calculation starts the day after the due date and includes the payment date.
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