Simple Interest Calculator
Calculate the simple interest on your investments or loans quickly and accurately.
Total Interest
₹ 0
Total Amount
₹ 0
Did you know?
Simple interest is calculated only on the principal amount of a loan or deposit, unlike compound interest which is calculated on the principal plus the interest accumulated.
What is Simple Interest?
Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Simple Interest Formula
SI = (P × R × T) / 100
P
Principal Amount
R
Rate of Interest (%)
T
Time (Years)
When to Use Our Simple Interest Calculator?
- 1Calculating interest on short-term loans.
- 2Estimating returns on simple savings accounts.
- 3Comparing different loan offers quickly.
- 4Academic use and financial literacy education.