Simple Interest Calculator
Quickly work out the interest earned (or owed) on a principal amount using the simple interest formula.
Maturity value
7% p.a. · simple₹1.21 Lakh
₹1,21,000
after 3 years
Principal amount
₹1 Lakh
₹1,00,000
Total interest earned
₹21,
+21% gain
| Year | Principal | Split | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹1,00,000 | ₹7,000 | ₹1,07,000 | |
| 2 | ₹1,00,000 | ₹14,000 | ₹1,14,000 | |
| 3 | ₹1,00,000 | ₹21,000 | ₹1,21,000 |
Frequently asked questions
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This calculator uses the simple interest formula: interest accrues linearly on the original principal of ₹1,00,000 at 7% per year for 3 years, with no compounding. Unlike a fixed or recurring deposit, the interest earned in earlier years doesn't itself earn interest.