This interest calculator is suitable for calculating interest on a specific sum of money owed over a longer period where the applicable interest rate changes over time, e.g., for default interest in case of late payment.

Entering the Sum: In the 'Interest' table, enter the sum of money to be subject to interest, the start date of interest accrual, and the end date of interest accrual. In the 'Start Date' column, enter the date from which interest should accrue. In the 'End Date' column, enter the date on which interest accrual should end. In the 'Total' column, enter the sum of money to be subject to interest.

Interest Rate Changes: In the 'Date' column of the interest rate table, enter the date from which the interest rate should apply. In the 'Interest Rate' column, enter the corresponding interest rate.

Interest at the base interest rate or the statutory interest rate: Default interest and statutory interest are often calculated based on the base interest rate.

• Select the country whose base interest rates you would like to view.

• Select whether you want to apply the base interest rates, the default interest rates for commercial transactions, or the default interest rates for private transactions.

• Optionally, enter an interest rate to be added to the respective imported base interest rate. For example, if a default interest rate of 2% above the base interest rate has been agreed upon, enter 2.

• Click Import Interest Rates. The 'Interest Rate Changes' table will be populated with the desired values.

Day Calculation - Capitalization Option: Select whether the year should be calculated as 360 days or according to the calendar, and whether the day calculation should be based on the calendar or 30 days per month.

Set Capitalization: Specify whether capitalization should occur monthly, quarterly, semi-annually, annually, or at the end of the term.

Calculate: Click Calculate to perform the calculation. The calculation includes interest days, interest, and the principal including interest (gross principal).

Save - Load - Delete Calculations: Registered users can save calculations. Further information about this function and the terms of use can be found here.

Save: Saves the details of the current calculation.

Note: During the calculation, interest rate changes are automatically sorted by date. If no valid interest rate exists, 0 is assumed; if the date of a transaction is after the last interest rate, the last interest rate is automatically used.