Simple Interest Calculator
Calculate simple interest and the maturity amount for a principal, rate and term — no compounding.
Runs 100% in your browser — nothing is uploaded.
%
years
Runs 100% in your browser — nothing is uploaded.
Result
Interest
$1,500.00
Total amount
$11,500.00
Interest per year
$500.00
Formula
I = P·r·t
About this calculator
Simple interest ignores interest-on-interest. Most bank accounts compound instead — see the compound interest calculator.
How to use
- 1
Enter the starting Principal amount.
- 2
Input the Annual interest rate in percent.
- 3
Set the Time in years and view Interest, Total amount, and Interest per year.
Frequently asked questions
Should I include fees?
Fees increase the effective amount financed. Add them to the loan amount for a realistic payment.
What does an extra payment do?
Extra payments go straight to principal, shortening the term and cutting total interest.
Please note: Results are estimates for general information only and are not professional or medical/financial advice.