Indiana Late Fee Calculator
Calculate late fees and interest on overdue invoices in Indiana — pre-set to the state's 8% statutory default rate.
Late fee rules in Indiana
Statutory interest rate
8% per annum — the default rate when no rate is agreed, and the post-judgment rate (a contract rate applies to judgments only up to an 8% cap).
Ind. Code § 24-4.6-1-101 (judgments); § 24-4.6-1-102 (absence of agreement)
Can you charge more? (contract & caps)
No usury cap applies to ordinary B2B or service invoices — Indiana's consumer credit code covers only consumer credit — so the contract controls, subject to liquidated-damages reasonableness.
Prompt payment rules
Ind. Code § 5-17-5-1 imposes a 1% per month late-payment penalty on state agencies and political subdivisions on public contracts (payment due within 35 days absent a contract date), flowing down to subcontractors. There is no comparable general statute for private commercial invoices.
Worth knowing
Judgment interest is capped at 8% even if the contract lawfully charged more before judgment — the higher contract rate does not survive entry of judgment.
This page is general information, not legal advice. Statutory rates change — some reset annually or quarterly — and how they apply depends on your contract and situation. Verify current rates against the cited statutes or consult a lawyer before charging interest.
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