Simple Interest Calculator
Calculate simple interest, total interest earned, and maturity amount for loans and deposits. Get instant results with our easy-to-use calculator.
Calculate Simple Interest
Enter the principal amount, annual interest rate, and time period to calculate interest
What is Simple Interest?
Simple interest is a quick method of calculating interest on a loan or deposit. Unlike compound interest, simple interest is calculated only on the principal amount, not on accumulated interest. This makes it easier to predict total returns or costs.
Simple Interest Formula
SI = (P × R × T) / 100
Where: P = Principal Amount, R = Rate of Interest (% per annum), T = Time Period (in years)
When to Use Simple Interest
- • Short-term loans and deposits
- • Car loans and personal loans
- • Quick financial estimates
- • Education planning
Benefits of Our Calculator
- ✓ Instant calculations with accurate results
- ✓ Detailed breakdown of interest and total amount
- ✓ Mobile-friendly and easy to use
- ✓ Free with no registration required