Simple Interest Calculator
While making any investments or availing any loans, you either have to pay some interest
amount or you receive interest on the investment. Calculating the amount that you have to
pay or will receive after a certain period of time is essential for planning your finances.
For this purpose, you can use our easy to use simple interest calculator.
What is Simple Interest?
Interest is a fee charged on money that has been loaned, borrowed, or invested. Simple
interest is a type of interest calculation that does not take into consideration numerous
periods of interest payments or charges. In other words, the interest rate will only apply
to the loan or investment's principal amount, it will not be modified by any interest that
What is a Simple Interest
A basic interest calculator is a handy tool for calculating interest on loans and savings
accounts without compounding. On a daily, monthly, or yearly basis, you can calculate simple
interest on the principal amount.
How to use
Tax2Win simple interest calculator?
Our Simple Savings Calculator can help you estimate the growth of your investment fast and
accurately. You'll need the following information to use this calculator:
Principal Amount (P): This is the initial amount of your investment that you have
contributed. Whether you have 10,000 or 1,00,000, your principal amount is very critical.
Annual interest (R): Use our rate tables to estimate the rate of return on your investment.
Enter the interest rate if you already know how much you'll be earning.
Number of years (T): This is the number of years you are planning to deposit your principal
amount or opting any loans for. Now that you know what the terms mean, here is what you need
to do to use our calculator:
- Select simple interest.
- Fill in the principal sum
- Enter the annual interest rate
- Choose your time span
Our Simple Interest Calculator will show you how much you've earned in simple interest on
What is the benefit of using tax2win simple interest calculator?
With this simple interest calculator, you can figure out how much interest you need to pay on
the loans you acquired and how much you need to save each month to hit the mark. You can
also calculate how much interest money you will receive on your deposits in seconds.
Eligibility Criteria for Using Simple Interest Calculator
Anyone can use this calculator as it is free to use and requires no documents or personal