eGigLate Payment Interest Calculator (MSME)
Calculate the interest owed when a client pays past the 45-day MSME Act limit.
Under the MSME Development Act 2006, a registered MSME supplier is entitled to compound interest at 3× the RBI bank rate if a buyer pays later than the agreed period (max 45 days) — this tool estimates that interest only. It doesn't constitute legal advice.
Payment details
Check the current rate on the RBI website — 6.5% is a placeholder.
Estimated interest owed
₹0
Days overdue0
Applicable rate (3× bank rate)0%
Invoice amount₹0
Total payable (invoice + interest)₹0
Generate the original invoice with the Invoice Generator, and consider stating this interest clause in your contract template upfront.
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