DELAY INTEREST 💶
https://sites.google.com/view/verzugszinsen
Since there is practically no app on the subject of Default Interest Calculation in the Google PlayStore, I decided to develop one 😉
The Default Interest 💶 app relieves you of the labour-intensive and error-prone calculation of the Default Interest that is incurred when debtors do not pay a monetary claim on time and the creditor suffers financial damage due to the failure of an im Contract guaranteed amount of money arises.
After expiry of the payment period and/or a final reminder (default in payment § 280 BGB), the creditor can demand compensation from the debtor under German law in the form of default interest (§ 288 Para. 1 Clause 1 BGB).
The default interest rate is added as a certain surcharge in percentage points (usually 5% for consumer business and 8% or 9% for commercial business) to the half-yearly published base rate 📉 by the Deutsche Bundesbank (from 01/01/2002 usually on 01/01 and 07/01 of each year) and the outstanding claim is calculated with interest to the day (depending on the selected interest practice) with this default interest.
"Base rate according to § 247 BGB:"
https://www.bundesbank.de/de/bundesbank/organisation/agb-und-ordnungen/basiszinssatz-607820
Interest rates are 30/360 (still widespread in Germany),
act/act (interest days of the months and days in the year according to the real calendar, including leap years with 366 days in the year), act/360 (Euro interest method) or < b>act/365 (less common and found in Anglo-Saxon countries) and the contracting parties involved as consumers or retailers.
The following therefore applies: default interest rate = base rate + surcharge
With the time-dependent interest rate on arrears, the interest on arrears is now painstakingly staggered over the entire period of arrears up to the settlement date with calculation of interest to the day of the amount receivable:
Default interest = claim amount / 100 * interest days / interest divisor * default interest rate
Depending on the selected interest practice, there are different interest days and an interest divisor for determining the interest on arrears:
Interest rates:
-------------------------------------------------- ------------
30/360 The year has 360 days, each month has 30 days
Interest Divisor = 360
act/act The real calendar year including leap days with exactly 365 or 366 days
Interest divisor = 365 or 366 in leap years
act/365 The real calendar year including leap days with exactly 365 or 366 days
Interest Divisor = 365
With the Android app Interest on arrears 💶, it is convenient and safer to get the desired result in addition to the outstanding claim + interest on arrears including non-interest-bearing expenses (costs).
The DELAY INTEREST 💶 app has the following features:
- Can be used OFFLINE after installation
- no storage of private smartphone data such as contacts or SMS
- All entries and results clearly arranged on one display page
- absolutely free and without showing annoying advertising
- Automatic determination of the base interest rate
- A surcharge dependent on the base interest rate or a variable or fixed surcharge as default interest
- Calculation results were calculated using a specially developed calculation with LibreCalc
and verified online and should meet the highest financial mathematical standards
will
- In addition to the actual claim, a non-interest-bearing cost amount can be specified
will
- Save 💾 and load 📂 a calculation in the dialog
- only available in German
- Further developments planned ⚙️🔧...
The app runs on smartphones and tablets 📱 equally from Android 5.0 (Lollipop) with a recommended screen resolution of 1920*1080 (full HD).
Have fun with DELAY INTEREST 💶
https://sites.google.com/view/verzugszinsen
Since there is practically no app on the subject of Default Interest Calculation in the Google PlayStore, I decided to develop one 😉
The Default Interest 💶 app relieves you of the labour-intensive and error-prone calculation of the Default Interest that is incurred when debtors do not pay a monetary claim on time and the creditor suffers financial damage due to the failure of an im Contract guaranteed amount of money arises.
After expiry of the payment period and/or a final reminder (default in payment § 280 BGB), the creditor can demand compensation from the debtor under German law in the form of default interest (§ 288 Para. 1 Clause 1 BGB).
The default interest rate is added as a certain surcharge in percentage points (usually 5% for consumer business and 8% or 9% for commercial business) to the half-yearly published base rate 📉 by the Deutsche Bundesbank (from 01/01/2002 usually on 01/01 and 07/01 of each year) and the outstanding claim is calculated with interest to the day (depending on the selected interest practice) with this default interest.
"Base rate according to § 247 BGB:"
https://www.bundesbank.de/de/bundesbank/organisation/agb-und-ordnungen/basiszinssatz-607820
Interest rates are 30/360 (still widespread in Germany),
act/act (interest days of the months and days in the year according to the real calendar, including leap years with 366 days in the year), act/360 (Euro interest method) or < b>act/365 (less common and found in Anglo-Saxon countries) and the contracting parties involved as consumers or retailers.
The following therefore applies: default interest rate = base rate + surcharge
With the time-dependent interest rate on arrears, the interest on arrears is now painstakingly staggered over the entire period of arrears up to the settlement date with calculation of interest to the day of the amount receivable:
Default interest = claim amount / 100 * interest days / interest divisor * default interest rate
Depending on the selected interest practice, there are different interest days and an interest divisor for determining the interest on arrears:
Interest rates:
-------------------------------------------------- ------------
30/360 The year has 360 days, each month has 30 days
Interest Divisor = 360
act/act The real calendar year including leap days with exactly 365 or 366 days
Interest divisor = 365 or 366 in leap years
act/365 The real calendar year including leap days with exactly 365 or 366 days
Interest Divisor = 365
With the Android app Interest on arrears 💶, it is convenient and safer to get the desired result in addition to the outstanding claim + interest on arrears including non-interest-bearing expenses (costs).
The DELAY INTEREST 💶 app has the following features:
- Can be used OFFLINE after installation
- no storage of private smartphone data such as contacts or SMS
- All entries and results clearly arranged on one display page
- absolutely free and without showing annoying advertising
- Automatic determination of the base interest rate
- A surcharge dependent on the base interest rate or a variable or fixed surcharge as default interest
- Calculation results were calculated using a specially developed calculation with LibreCalc
and verified online and should meet the highest financial mathematical standards
will
- In addition to the actual claim, a non-interest-bearing cost amount can be specified
will
- Save 💾 and load 📂 a calculation in the dialog
- only available in German
- Further developments planned ⚙️🔧...
The app runs on smartphones and tablets 📱 equally from Android 5.0 (Lollipop) with a recommended screen resolution of 1920*1080 (full HD).
Have fun with DELAY INTEREST 💶
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