The Daily Fee Formula with Worked Examples
If you borrow Rs 30,000 for 20 days at a daily fee rate of 1.5%:
- Daily cost = Rs 30,000 × 0.015 = Rs 450 per day
- 20-day cost = Rs 450 × 20 = Rs 9,000
- Total Repayment = Rs 30,000 + Rs 9,000 = Rs 39,000
Financial Education
How Digital Loan Interest & Daily Fees Are Calculated in Sri Lanka
Understand the mathematical formulas behind Sri Lankan digital loans, including flat daily fee calculations and multi-month amortized installment APRs.
Lead Financial Analyst & Banking Specialist
MBA (Finance) - University of Colombo
Independently Audited & Verified
Published: 2026-08-21·Updated: 2026-08-25
Key Takeaways & Quick Summary
- Daily Fee Formula: <code>Principal × (Daily Rate % ÷ 100) × Number of Days</code>.
- Installment Formula: Amortized monthly payments based on published annual APR.
- Always use our interactive calculator to verify the exact rupee amount before accepting a loan offer.
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Frequently Asked Questions
A 1% daily fee represents Rs 10 per Rs 1,000 borrowed per day. While ideal for a 10-day emergency bridge, holding it for a full year would compound to an extremely high rate, which is why digital micro-loans must only be used for short durations.
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