North Carolina Late Fee Calculator
Calculate late fees and interest on overdue invoices in North Carolina — pre-set to the state's 8% statutory default rate.
Late fee rules in North Carolina
Statutory interest rate
8% per annum — the legal rate; judgments bear the contract rate if one was agreed, otherwise 8%.
N.C. Gen. Stat. § 24-1 (legal rate); § 24-5 (pre- and post-judgment interest)
Can you charge more? (contract & caps)
No statutory cap on B2B invoice late fees between private parties — the contract controls, subject to reasonableness. Chapter 24's limits target loans: any written rate is allowed where principal exceeds $25,000, and business loans of $300,000+ are 'exempt loans' on which the usury defense is barred entirely.
Prompt payment rules
N.C. Gen. Stat. ch. 22C requires contractors to pay subcontractors within 7 days of receiving payment, with 1% per month interest on late amounts (excluding small residential projects), plus a parallel 1% per month rule for public projects.
Worth knowing
In contract actions the award bears interest automatically from the date of breach at the contract rate (or 8% if none) — and business borrowers in exempt loan transactions are statutorily barred from ever raising usury.
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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