Late payment fee calculator
Estimate late-payment penalties and the effective annual cost of paying late.
Late payment fee estimate
Enter your outstanding due, how many days you're late and your lender's monthly late-fee rate to estimate the penalty and its true annual cost.
This is an estimated rate. The actual rate depends on your lender's policy.
- Original due99%
- Late fee1%
Total late payment fee
₹500
at ₹33.33 per day
Total amount to pay now
₹50,500
original due + late fee
Fee per day
₹33.33
Effective annual rate
24.0%
annualised — late fees are expensive
A planned loan can be cheaper than mounting late-payment penalties.
What a late payment really costs
Penalties accrue per day and add up fast. Enter three numbers to see the fee and the annualised rate it implies.
Enter the amount due
The outstanding instalment or bill amount you couldn't pay on the due date.
Set the days late
How many days past the due date the payment is — the penalty accrues per day.
Add the monthly rate
Your lender's late-fee rate per month. The daily rate is that figure spread over 30 days.
See the true cost
Late fee = due × (rate ÷ 100 ÷ 30) × days. We also show the eye-opening annualised rate (monthly rate × 12).
Don't let a missed date snowball
When a loan EMI or bill slips past its due date, most lenders apply a late or penal charge for every day it stays unpaid. Because the fee is levied daily, a delay that feels small on the calendar can translate into a surprisingly steep annual rate of interest on the overdue amount.
This calculator makes that cost visible. Enter the amount due, how many days you're late and your lender's monthly fee rate, and it returns the total late fee, the new amount to clear and — most tellingly — the effective annual rate. Seeing the annualised figure is usually all the nudge it takes to prioritise the payment.
Figures are indicative. Actual penal charges, bounce fees and grace periods are set by your lender's policy. PakkaLoan does not lend directly and does not levy these charges.
Late payment fee questions, answered
This calculator spreads the monthly late-fee rate across 30 days, then charges it per day of delay. The daily rate is rate ÷ 100 ÷ 30; the late fee is due amount × daily rate × days delayed; and the total to pay now is the original due plus that fee. The effective annual rate is the monthly rate × 12.
Penal charges vary by lender, but a common figure is around 2% per month on the overdue amount. Cheque or EMI bounce charges (roughly ₹499 to ₹599) may apply on top. The exact penalty is set by your lender's policy, so treat this calculator's output as an estimate.
A 2% monthly late fee works out to roughly 24% a year, and higher monthly rates climb even faster. Because the penalty compounds the cost of credit, paying even a few days late is far more expensive than it looks — which is exactly what the annualised figure highlights.
Set up auto-pay or standing instructions, keep a buffer in your repayment account before each due date, and align due dates with your salary cycle where possible. If you expect to fall short, contacting your lender early is usually cheaper than letting penalties accrue.
No — it's a planning tool, and entering numbers here has no effect on your credit score. Note, however, that actually missing payments can be reported to credit bureaus and may lower your score, separate from any late fee.
A planned loan beats mounting late fees
If dues are piling up, a structured loan at a known rate can cost far less than daily penalties. Compare offers from partnered lenders in one place.