Simple Interest Calculator
Find the interest on a loan or deposit that does not compound.
Interest
Total balance
The formula
Interest = amount x rate / 100 x years. Total = amount + interest. Simple interest is charged only on the original amount, unlike compound interest.
Example: 5,000 at 4% for 3 years earns 600, so the total is 5,600.
Frequently asked questions
How is simple interest different from compound?
Compound interest is also earned on past interest, so it grows faster over time.
Where is simple interest used?
Some short loans, bonds and car loans use it.
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Last updated October 2026. For information only, not financial advice.