Navi Calculator **Simple Interest Calculator**

Total Investment

Rate of Interest (P.a)

%

Time Period (Years)

Principal Amount

0

Interest Amount

Total Value

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:

Slide the bar to choose the amount of investment or loan

Slide the bar to enter the tenure

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.

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

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

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

Move the slide bar to select the tenure

Move the slide bar to select the interest rate

Does the principal amount change in simple interest over time?

No, the principal amount remains the same when calculating simple interest over time.

What are the two types of simple interests?

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.

Is the simple interest calculator accurate?

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.

Can simple interest be calculated manually?

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.

What is the advantage of using a 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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Mar 2

The Annual Percentage Rate (APR) is the initial expense or benefit of a loaned or borrowed sum of money.

Dec 22

Interest accumulated on loans or any debt instrument, such as bond, but not yet collected is called accrued interest.

Feb 18

Mutual fund plans could be segregated into two types – direct plans and regular plans.

Mar 2

The Annual Percentage Rate (APR) is the initial expense or benefit of a loaned or borrowed sum of money.

Dec 22

Interest accumulated on loans or any debt instrument, such as bond, but not yet collected is called accrued interest.

Feb 18

Mutual fund plans could be segregated into two types – direct plans and regular plans.

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