Calculate simple interest on a loan or deposit. Enter the amount, the rate and the time, and get the interest and the total instantly.
| Total amount | – |
| Interest per year | – |
How it works
Simple interest = principal × rate × time. The interest is calculated only on the original amount and is not added to it each period. The total is the principal plus the interest.
Example
5,000 at 4% for 3 years earns 5,000 × 0.04 × 3 = 600, so the total is 5,600.
Frequently asked questions
What is the difference between simple and compound interest?
Simple interest is calculated on the original amount only. Compound interest is also calculated on interest already earned.
Can I use months?
Yes. Enter the number of months divided by 12, for example 0.5 for six months.
More free tools: Compound interest calculator · Loan calculator · All free tools
This calculator gives estimates for information only and is not financial advice. Check figures with your lender or adviser.