Interest calculator — with credit daysFree
The bill amount and date, credit days, grace and when the money came — due date, days late and interest.
How it works
In the cloth trade, interest is usually simple — a % per month, with a 30-day month. The Loomiro app works the same way.
Due date = bill date + credit daysInterest starts = due date + grace daysInterest = amount × rate% × days late ÷ 30
Example: a ₹1,00,000 bill dated 01-07-2026 with 30 credit days → due 31-07-2026. 5 grace days → interest from 05-08-2026. Paid on 15-09-2026 → 41 days late. At 1.5% a month: 1,00,000 × 1.5% × 41 ÷ 30 = ₹2,050.
Paid within the grace period, the interest is zero. With part payments, each part earns interest up to its own date — the app does that for you; this page works out a single payment.
In Loomiro, the interest % and grace are set in Settings, with a separate rate per party if needed (0 = no interest). Interest shows up in outstanding, the ledger and WhatsApp reminders, and an interest debit note is one click. More in the interest and credit days guide.
Loomiro does this for you
Doing these sums by hand every day? Let Loomiro keep them.
Taka entry, beam loading, mills, invoices, interest and costing — complete software for weaving units. We'll show you a demo on your own numbers.