Simple Interest Calculator
Calculate simple interest and total amount. See year-by-year breakdown of interest earned.
Loan / Investment Details
How to Use
1️⃣
Enter Principal
Input the initial loan or investment amount.
2️⃣
Set Rate & Time
Enter annual interest rate and duration in years.
3️⃣
Get Results
See total interest, final amount, and yearly breakdown.
Frequently Asked Questions
What is simple interest?
Simple interest is calculated only on the original principal amount. The formula is: Interest = Principal × Rate × Time. Unlike compound interest, you don't earn interest on previously accumulated interest.
When is simple interest used?
Simple interest is commonly used for short-term loans, car loans, and some savings accounts. Most investments and long-term loans use compound interest instead.
Is this calculator free?
Yes, completely free. Use it unlimited times for loans, investments, and financial planning.