Free tool
Simple interest calculator
Work out interest on a loan or deposit that does not compound. Enter the principal, the yearly rate and the number of years.
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How it works
How it works
Simple interest = principal x rate x years. The total is the principal plus that interest.
FAQ
About this calculator
How is simple interest different from compound interest?
Simple interest is figured only on the original amount. Compound interest is also figured on interest already added.
Can I use months?
Yes. Enter the fraction of a year, such as 0.5 for six months.
Which loans use simple interest?
Some short-term loans and many auto loans. Check your loan agreement for how interest is calculated.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Is this tax or financial advice?
No. It is a calculator for general information. Check the numbers against your own records, and ask an accountant before you act on them.
Related: compound interest calculator, late payment fee calculator. See all free tools. More free tools: Prorated rent calculator, LTV and CAC calculator, Days payable outstanding calculator, or see all free tools.
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General information, not tax or legal advice. How we write and check our tools.