Interest Calculator
Comprehensive Report
Ready to Calculate?
Fill in the details on the left and hit 'Calculate' to see your interest breakdown and growth chart.
Total Amount:
Interest:
📊 Month-by-Month Breakdown
Fill in the details and hit Calculate. Your month-wise table will appear here.
Interest Calculator – Simple & Compound Interest Made Easy
- Instantly compute simple interest and compound interest.
- Visualize growth with charts for better understanding.
- Download a detailed PDF report for record-keeping.
How the Interest Calculator Works
Simple Interest
Simple interest is calculated using the formula:
This method is straightforward and ideal for short-term loans or deposits.
Compound Interest
Compound interest grows faster because interest is added back to the principal each month.
The formula is:
If the interest rate is provided annually, divide it by 12 to convert it into a monthly rate. Use this monthly rate in the compound interest formula to calculate the accurate amount over time.
Frequently Asked Questions (FAQs)
An Interest Calculator is a tool that applies financial formulas to quickly compute simple or compound interest. It saves time, reduces errors, and helps you understand how your money grows or what you’ll owe on loans.
If your rate is yearly, the calculator divides it by 12 to convert it into a monthly rate. This ensures accurate results when calculating compound interest over months.
Yes. The tool provides a PDF report with input details, summary, and month-by-month breakdown for record-keeping.
Because compound interest adds earned interest back to the principal, creating exponential growth. Over long periods, this makes a significant difference compared to simple interest.
It uses standard financial formulas, so results are mathematically accurate. However, actual bank or loan terms may include additional fees or conditions, so always cross-check with official documents.