Calculyn

Simple Interest Calculator

Calculate simple interest on a loan or deposit.

$
%

Results update as you type.

Interest earned

$750
Total (principal + interest)
$5,750
  • Principal87%
  • Interest13%
Interest earned$750

Loan results are estimates and not financial advice. Your lender's terms, fees and rate determine your real payments.

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How it works

Simple interest is charged only on the original principal, never on accumulated interest.

Formula

I = P × r × t

Example

$5,000 at 5% for 3 years earns $750 in simple interest.

Assumptions & limitations

  • Fixed rate and on-time payments.
  • Excludes origination fees, late fees and penalties unless entered.

Frequently asked questions

When is simple interest used?

Some auto loans, short-term personal loans, and certificates of deposit use simple interest.