Interest Calculator

How to Use the Interest Calculator

1️⃣ Enter Principal Amount (₹)

• This is the initial amount you are investing or borrowing.
• Example:
  • If you deposit ₹50,000 in a bank, enter 50000.

2️⃣ Enter Interest Rate (%)

• This is the annual interest rate offered by the bank or lender.
• Example:
  • If the interest rate is 7.5% per year, enter 7.5.

3️⃣ Enter Time Period

• Enter the duration for which you want to calculate interest.
• Example:
  • For 3 years, enter 3.
  • For 6 months, enter 6 and select “Months” in the next step.

4️⃣ Select Time Unit

• Choose whether the time is in:
  • Years (default)
  • Months (e.g., 18 months)
  • Days (e.g., 180 days)

5️⃣ Select Interest Type

• Simple Interest (SI) → Interest calculated only on the principal.
• Compound Interest (CI) → Interest calculated on principal + accumulated interest.

6️⃣ Click “Calculate Interest”

• The calculator will show:
  • Interest Earned (₹)
  • Total Amount (₹) (Principal + Interest)