Interest Calculator – Calculate Simple & Compound Interest
TheInterest Calculatoris a free online tool that helps you **calculate interest on your savings, investments, or loans**. Whether you need to compute **simple interest or compound interest**, this tool provides accurate results in seconds.
How to Use the Interest Calculator?
- Enter the **principal amount** (initial investment or loan amount).
- Input the **interest rate** (annual percentage).
- Select the **interest type** – Simple Interest or Compound Interest.
- If choosing compound interest, select the **compounding frequency** (annually, semi-annually, quarterly, or monthly).
- Enter the **time period** (in years or months).
- Click on the"Calculate Interest"button.
- View the total **interest earned/payable and the final amount**.
Why Use an Online Interest Calculator?
- ✅Instant & Accurate Calculations:Avoid manual errors and get results instantly.
- ✅Plan Your Finances:Determine your returns on investments or loan repayments.
- ✅Supports Both Simple & Compound Interest:Easily compare different interest types.
- ✅No Registration Required:Use it **for free, without sign-up or login**.
Benefits of Using an Interest Calculator
- Calculate Loan Interest:Find out how much interest you’ll pay on loans.
- Estimate Investment Returns:Check the growth of your **savings, FD, RD, or investments**.
- Compare Interest Rates:See how different interest rates impact your final amount.
- Time-Saving & Easy:No need for complex formulas – get results in one click.
Formula for Simple & Compound Interest
Simple Interest Formula
SI = (P × R × T) / 100
Where:
P= Principal Amount
R= Annual Interest Rate
T= Time (in years)
Compound Interest Formula
CI = P × (1 + R/N)^(N×T) - P
Where:
P= Principal Amount
R= Annual Interest Rate (in decimal)
N= Number of times interest is compounded per year
T= Time (in years)
Frequently Asked Questions
❓ What is the difference between simple and compound interest?
Simple interest is calculated only on the principal, while compound interest is calculated on both the **principal and accumulated interest**.
❓ Can I use this calculator for loan interest calculations?
Yes! Our **Interest Calculator helps calculate interest on personal loans, home loans, and business loans**.
❓ How does compound interest work?
Compound interest grows faster because interest is **calculated on both the principal and previously earned interest**.
❓ Is this Interest Calculator free to use?
Yes! This tool is **100% free and works on all devices**.
Calculate Your Interest Now!
Use our **free Interest Calculator** to **find out how much interest you can earn or owe**.