Simple Interest Calculator â Calculate Loan Interest
Calculate simple interest on loans, deposits, and investments instantly. Our simple interest calculator helps you determine the total interest amount and final payable amount based on principal, rate, and time period.
Unlike compound interest, simple interest is calculated only on the principal amount, making it easier to understand and commonly used for short-term loans, car loans, and certain deposit schemes.
đ Simple Interest Formula
SI = (P Ã R Ã T) / 100
Where: P = Principal amount, R = Rate of interest per annum, T = Time period in years
⨠Key Features
- Instant Calculations: Real-time results as you adjust values
- Year-by-Year Breakdown: See interest accumulation over time
- Visual Charts: Interactive pie chart showing principal vs interest
- Flexible Inputs: Customize principal, rate, and tenure easily
đ° Common Applications
- Car loans and vehicle financing
- Short-term personal loans
- Fixed deposits with simple interest
- Agricultural and business loans
- Student loans and education financing