Simple Interest Calculator
Simple interest is charged only on the original principal — it does not compound. It is common for short-term loans and some fixed deposits. Enter the principal, annual rate and time to see the interest and the total amount payable.
🚀 Open the Simple Interest Calculator →
Formula
Simple Interest = P × R × T ÷ 100, where P is principal, R is the annual rate and T is time in years. Total amount = P + Simple Interest.
Example
₹1,00,000 at 8% for 5 years earns simple interest of ₹40,000, so the maturity amount is ₹1,40,000.
Frequently Asked Questions
How is simple interest different from compound interest?
Simple interest is calculated only on the principal, while compound interest is calculated on the principal plus accumulated interest, so it grows faster.
Where is simple interest used?
Simple interest is common for short-term personal loans, car loans in some cases, and certain fixed-income products.
Related calculators
- Compound Interest Calculator
- FD Calculator — Fixed Deposit Maturity
- EMI Calculator — Loan EMI, Interest & Schedule
EMI Mitra is a 100% free, on-device personal-finance toolkit for India. No signup, no data leaves your browser. Explore all calculators →