Rate of Interest (P.a)
Time Period (Years)
A simple interest calculator is an online tool that you can use to calculate the portion of simple interest on loans or investments. You can calculate the simple interest on the principal amount on a monthly or annual basis.
Navi’s simple interest calculator is extremely easy to use and you can access it on the go. All you need to do is enter the principal amount, tenure and rate of interest. The online calculator will show you the simple interest details in a few seconds.
The simple interest calculator takes three aspects into consideration which include the principal amount, interest rate and tenure. The manual calculation for bigger amounts could be difficult, time-consuming and may result in errors. Navi’s simple interest calculator is easy to use.
Following these simple steps to use Navi simple interest calculator:
The simple interest calculator will show the results with the total principal, interest, and total amount within a few seconds.
You can use the below formula to calculate simple interest on loans and investments:
Simple Interest (SI) = (P x R x T) / 100, where P = principal amount, R = rate of interest and T = tenure
For example, you have invested Rs.1,00,000 at the rate of 5% for 3 years
SI = 1,00,000 x 5 x 3 / 100 = Rs.15,000