Interest Calculator
Calculate simple and compound interest on your savings or loans.
Results
Final Amount
$0
How to Use This Interest Calculator
Our free interest calculator helps you calculate either simple or compound interest. Enter the principal amount, annual rate, and time period to see how your money grows.
Understanding interest is essential for making informed financial decisions about savings accounts, loans, and investments.
Frequently Asked Questions
What is the difference between simple and compound interest?
Simple interest is calculated only on the principal amount. Compound interest is calculated on the principal plus accumulated interest, meaning you earn interest on interest.
Which type of interest is better for savings?
Compound interest is generally better for savings because it allows your money to grow faster. For loans, simple interest usually means lower total costs.
How often is compound interest calculated?
Compound interest can be calculated annually, monthly, weekly, or daily. More frequent compounding leads to faster growth of your investment.