Simple interest calculator

See how much an amount earns with simple interest, adding deposits every month. Compare it right away with what compound interest would give you.

Währung

Starting amount

Monthly deposit

Interest rate (%)

Rate period

Years

Months

With simple interest, interest is charged only on the amount invested, never on earlier interest.

Calculate interest Fir d'Resultat ze gesinn, musst Dir eng kuerz Annonce kucken. Et gi keng Donnéeë gespäichert.

Äert Resultat erschéngt hei Fëllt d'Felder aus a tippt op Calculate interest.

How we calculate

With simple interest, each amount invested earns the same sum every month, calculated on itself. Monthly deposits start earning the month after they go in.

Interest = Principal × i × n

i = monthly rate (yearly rate ÷ 12) · n = months. For comparison, we also calculate the same scenario with compound interest.

Dacks gestallte Froen

How is it different from compound interest?

With compound interest, each month’s interest starts earning too. Over long periods the difference gets big.

Where is simple interest used?

In some short-term loans, late fees and penalties. Most investments use compound interest.

Can I use only years or only months?

Yes. Fill in one field and leave the other at 0.

Other tools

50/30/20 budget Split your income between needs, wants and savings. Benotzt et → Emergency fund How much to keep and how long it takes to get there. Benotzt et → Savings goal How much to save each month to reach an amount by a date. Benotzt et →