Jäännösmaksu

Jäännösmaksu, meaning "residual payment" or "late fee" in English, is a term commonly used in Finland and other Nordic countries to describe a charge applied when a payment is not made by its due date. This fee serves as a penalty for overdue payments and aims to compensate the creditor for the financial inconvenience and potential loss of interest incurred.

The specific amount and conditions for jäännösmaksu can vary depending on the type of service or debt. For instance, utility bills, credit card payments, and loan installments often have provisions for these fees if not paid on time. The legal framework in Finland, such as the Interest Act, often governs the calculation and application of such charges, ensuring they remain reasonable.

Typically, a jäännösmaksu is calculated as a percentage of the outstanding amount or as a fixed sum, sometimes combined with accrued interest. It is usually added to the original debt and becomes due along with the principal amount. Consumers are generally notified of these potential charges in the initial contract or terms and conditions of the service.

The purpose of a jäännösmaksu is twofold: to encourage timely payments and to offset the costs associated with late remittances. It is a standard financial practice designed to maintain the smooth operation of credit and service provision.