About the simple interest calculator
Simple interest is calculated only on the original amount borrowed or deposited. It is common in short-term loans and some bonds. Enter the principal, rate and time to see the interest and total amount.
Formula used
SI = P × r × t / 100
How to use
Fill in the fields above and the results update instantly. Change any value to compare scenarios. Results are estimates for planning and education and may differ from figures provided by banks, tax offices or doctors.
Frequently asked questions
When is simple interest used?
Short-term personal loans, some car loans and bonds often use it.
How do I add months?
Enter years as a decimal, e.g. 6 months = 0.5.