Calculate Interest
Calculate the interest on an amount. Enter the starting amount, interest rate and term to see the result instantly.
What is interest?
Interest is the amount you pay or receive on money you borrow or lend. You earn interest on savings, while you pay interest on loans. With this interest calculator, you can easily calculate how much interest you will receive or pay over a certain period.
This tool calculates simple interest. This means that interest is calculated only on the original amount and not on interest accrued previously.
How does calculating interest work?
The formula for simple interest is:
Interest = amount × interest rate × term
With this tool, you do not need to apply the formula yourself. Simply enter the values and the result will appear instantly.
When should you use this tool?
- calculating savings interest
- interest on a loan or advance
- understanding costs or returns
- financial planning
- education and study
Who is this tool suitable for?
- consumers
- students
- business owners
- accountants
- anyone who wants to calculate interest quickly
Difference from compound interest
With simple interest, the principal amount remains the same.
With compound interest, the amount grows because interest is calculated on previously earned interest. A separate tool is needed for this (which we will create next).
Frequently asked questions
Is this gross or net interest?
This tool calculates gross interest, before taxes.
Can I enter months?
Yes, you can also choose a term in months.
Is this tool free?
Yes, it is completely free and requires no registration.