Interest Calculator calculates interest on a debt. It is suitable for use by NSW, Victorian, Queensland & ACT legal practitioners.

Interest can be calculated:

1. Pursuant to a single interest rate entered by the user e.g. 12.5%
2. Pursuant to a state or court interest rate scale e.g. Federal Court
3. Pursuant to a custom interest rate scale which is created by the user

Interest Calculator includes the following court/state interest rate scales (sometimes referred to as schedules) :

• NSW - Uniform Civil Procedure Rules 2005 - Schedule 5 (Applies to Local District & Supreme Court) up to 30 June 2010
• From 1 July 2010 the NSW Interest Rate is based on the RBA cash target rate + 4%
• Victoria - Penalty Interest Rates Act 1983
• Queensland - pre - judgement interest pursuant to s.47 of the Supreme Court Act 1995
• Queensland post - judgement interest pursuant to s.48 of the Supreme Court Regulation 1998
• Family Court
• Federal Court
• ACT Magistrates Court Pre Judgement
• ACT Magistrates Court Post Judgement
• Reserve Bank Cash Rate
• Reserve Bank Cash Rate Plus 2% (Solicitors in NSW and Victoria may charge interest on their fees only at a special rate known as the Reserve Bank Cash Rate Plus 2%)

Instead of using one of the court/state interest rate scales that are automatically included as part of the program you can create and edit your own custom interest rate scale.

Interest Calculator Advanced

The advanced window allows you to calculate interest where there are multiple loan advances and/or repayments over a period of time.

Date of loan advance of $14,000	22.4.2003
Date of loan repayment of $2,000	3.6.2004
Date of loan advance of $3,000	8.12.2005
Date of loan repayment  of $6,000	3.5.2006
Date to which interest is calculated to	8.7.2006

Key Benefits