Interest Calculator
Calculate interest on your savings or investments using both simple and compound interest methods. Enter your details below to see how your money can grow over time.
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Understanding Simple vs. Compound Interest
Simple Interest
Simple interest is calculated only on the initial principal amount of a loan or deposit. It does not "compound," meaning you won't earn interest on the interest you've already accumulated.
Formula: Interest = Principal × Rate × Time
Compound Interest
Compound interest is calculated on the initial principal and also on the accumulated interest from previous periods. It can be thought of as "interest on interest," and it will make a sum grow at a faster rate than simple interest.
Formula: Total = Principal × (1 + Rate/n)^(n×Time), where 'n' is the number of times interest is compounded per period.