Statutory late interest under VÕS §113 is the base rate published by Eesti Pank plus 8 percentage points per year: 10.15% in the first half of 2026 and 10.40% in the second. A contractual rate may be agreed per day or per year — the two produce very different amounts.
Variables (the formula is shown below the calculator)
debt — the unpaid principal claim. due date — the day the invoice should have been paid. overdue period — days from the due date to actual payment. base rate — published by Eesti Pank for each half-year (2.15% from 01.01.2026, 2.40% from 01.07.2026). margin — 8 percentage points per year under VÕS §113. annual rate — base rate plus margin.
Two modes: statutory and contractual
The statutory mode takes the rate from the registry and is always an annual rate. The contractual mode asks for the rate from the contract and requires a unit: percent per day or per year. Contracts often state “0.06” with no unit — the calculator does not guess, because 0.06%/day is roughly 21.9% per year while 0.06%/year is almost nothing.
A half-year boundary splits the period
The base rate is set per half-year. If the delay crosses 1 January or 1 July, the whole period must not be computed at a single rate: each segment uses its own rate and the results are summed. The calculator lists the segments separately so the result can be checked.
Partial payments
If the debtor has paid part of the debt, interest continues to accrue only on the remainder. Enter payments with date and amount; each reduces the base from its own date. The summary also reports the effective annual rate, which stays comparable even when the period consists of different segments.
Scope and exclusions
Applies to late interest on a monetary obligation under a law-of-obligations contract. It does not compute interest on tax arrears (EMTA has its own rate and procedure), contractual penalties, or damages. In consumer contracts the law may cap the contractual rate. The result is informative.
Examples
A period crossing 1 July 2026
A delay from 01.06.2026 to 31.07.2026 is computed as two segments: the June days at 10.15% per year (base 2.15 + 8) and the July days at 10.40% per year (base 2.40 + 8). Using one averaged rate would give the wrong amount.
Contractual 0.06% per day versus 0.06% per year
For the same debt and period, 0.06% per day amounts to roughly 21.9% per year, while 0.06% per year is a practically negligible sum. The gap is about 365-fold, which is why the calculator requires the unit to be chosen.
A partial payment mid-period
Of a €1000 debt, €400 is paid halfway through. Interest for the first half is calculated on €1000 and for the second on €600. Ignoring the payment would overstate the interest without basis.
Sources
- Law of Obligations Act (VÕS) — §113 late interest, §94 base rate
- Eesti Pank — interest rate for obligations — half-year base rates: 2.15% and 2.40% in 2026