Calculate simple interest, compound interest, loan payments, and compare financial plans
The Interest Calculator provided on 21K Tools is designed for educational and informational purposes only. It helps students, learners, and individuals understand how simple and compound interest are calculated in mathematics and finance.
Managing finances is a daily part of life, whether you are saving for the future, paying off a loan, or just curious about how interest grows over time. To make this process easier, 21K Tools offers a free Interest & Loan Calculator – a powerful, browser-based tool that helps you calculate simple interest, compound interest with contributions, loan payments, and even compare multiple financial plans.
Finance may look complicated at first glance, but at its core, it comes down to three main elements: principal amount, interest rate, and time. Whether you are depositing money into a savings account, investing in a scheme, or borrowing from a bank, interest is always involved.
Simple interest is the most basic form of interest. It is calculated using the formula:
For example, if you deposit ₹10,000 at 5% annual interest for 3 years, you'll earn ₹1,500 as interest.
Perfect for:
Compound interest is often called the eighth wonder of the world because it makes money grow exponentially. Unlike simple interest, compound interest adds earned interest back into the principal.
Where:
Features:
Understanding monthly payments (EMIs) and total repayment cost is crucial before borrowing. The tool uses the standard EMI formula:
Features:
Sometimes you have multiple options with different interest rates. Our comparison tool helps you:
Simple interest is calculated only on the principal amount throughout the investment period. The formula is: SI = (P × R × T) / 100.
Compound interest includes both the principal and accumulated interest from previous periods, leading to exponential growth. It's calculated using: A = P(1 + r/n)^(nt).
For example, ₹10,000 at 10% for 5 years:
Yes! The Loan Calculator works for all types of loans including student loans, home loans, car loans, and personal loans. Simply enter:
The calculator will show you the exact payment amount per period, total interest you'll pay, and overall cost of the loan.
Our calculations use standard financial formulas and are mathematically accurate. However, please note:
An amortization schedule is a detailed table that shows the breakdown of each loan payment into:
This helps you understand how your loan gets paid off over time. Early payments have more interest, while later payments have more principal.
Yes! The Interest & Loan Calculator by 21K Tools is completely free to use with no hidden charges, subscriptions, or registration required. You can:
We currently support five major currencies:
You can switch between currencies anytime using the currency selector in the results section.
Yes! You can download your calculation results as an image using the "Share" button. This creates a professional-looking card with:
You can save these images for your records or share them with others.
The Interest & Loan Calculator by 21K Tools is your comprehensive financial planning companion. Whether you're learning about interest, planning investments, comparing loan options, or making important financial decisions, this tool provides accurate, instant calculations in an easy-to-use interface.
Start calculating now and take control of your financial future!
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