Simple Interest Calculator
Compute simple interest using SI = (P × R × T) / 100.
1,00,000
8.00
3.00
Principal
₹1,00,000
Simple interest
₹24,000
Total amount
₹1,24,000
// about this calculator
Simple interest is the most basic credit math — interest is charged only on the original principal, never on accumulated interest. It's still used for some short-term personal loans, friends-and-family debts, hire-purchase plans and most education-loan moratorium periods.
// frequently asked questions
Most savings interest in India is computed daily but credited quarterly using a simple interest method on the daily product. Some education loans charge simple interest during the course-plus-moratorium phase before EMIs begin.