Simple Interest Calculator
Simple interest with exact principal, rate and years plus months
Key Features & Calculation Guidance
Key features: Exact Inputs, Years + Months, Flat-Rate Warning. Free, 100% browser-based — no login required.
Frequently Asked Questions
Can I calculate simple interest for months?
Yes. Enter completed years and additional months. The calculator converts the months into a fraction of a year before applying the simple-interest formula.
Is a 10% flat loan the same as a 10% reducing-balance loan?
No. With a flat-rate loan, interest can be calculated on the original principal for the full tenure even as instalments are repaid. A reducing-balance loan calculates interest on the outstanding principal, so headline rates are not directly comparable.
Does simple interest compound?
No. Interest is calculated on the original principal only; previously accrued interest does not itself earn interest in this model.
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