Interest Rate Calculator

Calculate simple and compound interest on savings and loans

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Principal ($)

Annual Rate (%)

Time (years)

Compounding

Simple Interest

Interest earned

$2,500.00

Total: $12,500.00

Compound Interest

Interest earned

$2,833.59

Total: $12,833.59

Compound interest earns $333.59 more than simple interest over 5 years

Frequently Asked Questions

What is simple interest?▼

Simple interest = Principal × Rate × Time. Interest is only calculated on the original principal, not on accumulated interest.

What is the difference between simple and compound interest?▼

Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus accumulated interest, so it grows faster over time.

How to Use Interest Rate Calculator

1Open the Interest Rate Calculator tool above - it loads instantly in your browser.
2Enter your data or upload your file. Everything is processed locally on your device - nothing is uploaded to any server.
3Get your results instantly. Copy, download, or share - completely free with no signup required.

Interest Rate Calculatoris part of BriskTool's collection of free online tools. All tools run entirely in your browser for maximum privacy and speed.