Simple interest calculator

For loans and deposits that do not compound, interest is just principal times rate times time.

How to calculate simple interest

  1. 01Enter the principal and the yearly interest rate.
  2. 02Enter the time and pick years, months or days.
  3. 03Read the interest and the total amount.

FAQ

Interest = P × R × T, where R is the yearly rate as a decimal and T is in years. 1,000 at 5% for 3 years earns 150.