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Interest that does not compound, calculated instantly.
Enter principal, rate and time.
SI = P x R x T / 100 A = P + SI
Simple interest is charged only on the original principal, so it grows in a straight line rather than a curve.
A loan of 50,000 at 9% for 3 years.
The interest is 13,500 and the total repayable is 63,500.
Short-term personal lending, some vehicle loans and certain fixed-income instruments use simple interest. Most bank loans and deposits use compound interest.
Over short periods very little, but the gap widens quickly. Compare the same inputs in the compound interest calculator to see it.
Enter months as a fraction of a year, so 18 months is 1.5.
See how compounding grows a balance over time.
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