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Simple interest calculator

Interest and total for a loan or deposit with simple (not compound) interest.

  • Free
  • No sign-up
  • Works on any device

About Simple interest calculator

Calculates interest with the simple formula I = P x r x t, where interest is charged only on the original amount and does not compound. Used for some short-term loans, bonds and deposits. Over long periods it gives less than compound interest at the same rate.

How to use Simple interest calculator

  1. Enter your numbers above.
  2. The result updates instantly as you type.
  3. Change any value to compare different cases.

Why use this tool?

Also known as

Frequently asked questions

What is the difference between simple and compound interest?

Simple interest applies only to the principal. Compound interest also applies to previously earned interest, so it grows faster over time.

Is Simple interest calculator free?

Yes. Simple interest calculator on Toolipedia is free to use, with no sign-up and no watermark.

Is it safe to use?

Yes. Everything is worked out in your browser, and nothing you enter is sent to our server.

Does it work on my phone?

Yes. It works in any modern browser on Android and iPhone, as well as on tablets and computers. There's nothing to install.

Do I need an account?

No. Just open the page and use the tool. There's no sign-up and no email needed.

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