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Simple Interest Calculator
Calculate simple interest on a loan or deposit. The interest is the same every year because it is only charged on the starting amount.
The numbers you type stay in your browser. Nothing is uploaded.
Banks often use compound interest for deposits and many loans. Use the Compound Interest Calculator if interest is added to the balance.
How to use
- Enter the principal (starting amount).
- Enter the yearly interest rate.
- Enter the time and choose years, months or days.
- See the interest and the total amount.
Good to know
Banks often use compound interest for deposits and many loans. Use the Compound Interest Calculator if interest is added to the balance.
Questions and answers
What is the simple interest formula?
Simple interest = Principal x Rate x Time / 100, where time is in years.
How are months and days handled?
They are converted to years: months divided by 12 and days divided by 365.
Is anything uploaded?
No. The calculation runs in your browser.
More tools: see all tools.