Calculate simple or compound interest on your investments or loans
Calculate Interest
₹0
Total Interest
Summary
Principal Amount₹1,00,000
Interest Typesimple
Total Amount₹0
💡 Difference
• Simple Interest: Calculated only on principal
• Compound Interest: Interest on principal + accumulated interest
• Compound interest yields higher returns over time
Frequently Asked Questions
Common questions about our services
Simple interest is calculated only on the principal amount. Compound interest is calculated on the principal plus accumulated interest from previous periods. Compound interest yields higher returns over time.
Compound interest is better for investments as it allows your money to grow faster. The interest earned in each period is added to the principal, so you earn interest on interest.
Higher interest rates mean you pay more on loans but earn more on investments. Even a 1% difference can significantly impact the total amount over time, especially with compound interest.
Personal loan interest rates in India range from 10% to 24% per annum. Banks typically offer 10-15%, while NBFCs and fintech apps may charge 12-24%. Your credit score determines the exact rate.
To reduce interest: maintain a good credit score (750+), compare rates from multiple lenders, choose shorter tenure if affordable, make prepayments when possible, and negotiate with lenders based on your profile.