Simple Interest Calculator
Total: ₹0
Simple Interest: ₹0
Total Amount: ₹0
What is this Simple Interest Calculator?
Our Simple Interest Calculator helps you quickly calculate the interest amount earned or payable on a fixed principal over a specific time period at a given rate of interest. It uses the basic simple interest formula:
Simple Interest = (Principal × Rate × Time) / 100
Whether you’re saving money or taking a loan, this tool gives you instant and accurate results.
Why and When to Use This Tool?
- When you want to know how much interest you will earn on a fixed deposit or savings.
- When you’re taking a loan and want to know the total interest payable.
- For students, investors, and borrowers who want to plan finances smartly.
- It’s ideal for short-term calculations where compound interest is not involved.
How to Use the Calculator
Using the Simple Interest Calculator is very easy:
- Enter the Principal amount (the initial money you invest or borrow).
- Enter the Interest Rate (annual rate in %).
- Enter the Time Period (in years).
- Click Calculate to see the Simple Interest and Total Amount.
You can also try different values to compare various investment or loan options.
Additional Tips
- Always double-check the rate type – some banks quote monthly or quarterly rates.
- For short periods, convert time into years (e.g., 6 months = 0.5 years).
- This tool is best for loans or deposits with non-compounding interest.