Simple Interest Calculator
Calculate simple interest on a deposit or loan, with the formula shown.
%
—Interest
—Total amount
● Calculations run in your browser. Your numbers are never sent anywhere.
How it works
Simple interest is calculated only on the original principal: I = P × r × t, with r the annual rate and t the time in years. Unlike compound interest, earned interest doesn't itself earn interest. Banks sometimes count days on a 360-day year (“actual/360”), which slightly increases the interest.