Simple Interest Calculator

Total Investment

Rate of Interest (P.a)


Time Period (Years)

Principal Amount


Interest Amount

Total Value

What is a Simple Interest Calculator?

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.

How to Calculate Simple Interest?

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:

Select the principal amount

Slide the bar to choose the amount of investment or loan

Select the tenure

Slide the bar to enter the tenure

Select the interest rate

Slide the bar to enter the interest rate on your preferred investment or loan.

The simple interest calculator will show the results with the total principal, interest, and total amount within a few seconds.

What is the Formula for Calculating Simple Interest?

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

Advantages of Using the Navi Simple Interest Calculator

Here are the advantages of using the Navi simple interest calculator:

Select the principal amount

Choose the amount you need with the help of a slide bar

Select the tenure

Move the slide bar to select the tenure

Select the interest rate

Move the slide bar to select the interest rate

Frequently asked questions

No, the principal amount remains the same when calculating simple interest over time.
The two primary types of simple interest include the exact and ordinary simple interest. However, the formula to calculate the simple interest remains the same.
Many people find it confusing to determine the interest gains they will accumulate after the maturity period ends. In such cases, a simple interest calculator can be quite helpful.
Yes, it is easy to calculate simple interest manually but only for a short period. For long consecutive years, the manual calculations can be inaccurate. Therefore, it is better to use an online simple interest calculator.
Sometimes, a lot of variables are involved in determining the simple interest. It might not be possible to take them all into account. A simple interest account can be of extreme help here as it helps the investor make possible decisions.
Disclaimer: Navi does not guarantee the accuracy, completeness, or correct sequence of any details provided therein. Therefore no reliance should be placed by the user for any purpose whatsoever on the information contained or data generated herein or on its completeness or accuracy. The use of any information set out is entirely at the user’s own risk.


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