Simple Interest Calculator
Calculate interest earned, maturity value, and effective monthly return
Unit: ₹
Unit: %
Unit: years
Interest Earned
₹24,000
Maturity Value
₹1,24,000
Monthly Interest
₹667
How this calculator works
Free simple interest calculator for loans, deposits, and short-term savings plans.
Quick tips
- •Useful for fixed-rate simple interest loans and short-duration deposits.
- •If interest compounds, use the compound interest calculator instead.
- •Double-check whether the lender quotes annual or monthly interest.
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Simple Interest Calculator
This simple interest calculator helps you quickly estimate interest earned on savings or interest payable on flat-rate borrowing. It is ideal for comparing short-duration fixed-return scenarios.
Formula: Simple Interest = Principal × Rate × Time ÷ 100
- Useful for fixed-rate simple interest loans and short-duration deposits.
- If interest compounds, use the compound interest calculator instead.
- Double-check whether the lender quotes annual or monthly interest.
Frequently Asked Questions
What is simple interest?
Simple interest is calculated only on the original principal. Interest does not compound on previously earned interest.
When should I use a simple interest calculator?
Use it for flat-rate loans, basic promissory notes, or investments where the return is quoted on the initial principal only.