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This simple interest calculator calculates interest between any two dates. Per simple interest is "interest payable only on the principal." Interest is never earned or collected on previous interest.

Because this calculator is date sensitive, it is a suitable tool for calculating simple interest owed on any debt. You can calculate the accrued interest from any point in time when the balance is known. More details below the calculator



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Simple Interest

Simple interest is the interest calculation method that is least beneficial to savers and the most beneficial to borrowers.

But note, if payments on a debt are paid as frequently as the compounding and the payment covers the interest due, then even if the terms of the loan call for compounding, there will be no impact on the total amount paid because at no point will there be any unpaid interest.

When the terms of a debt call for a simple interest calculation, if a payment does not cover the interest due, the unpaid interest must be tracked separately from the unpaid principal balance (also known as the US Rule). We believe that our Time Value of Money Calculator is the only online financial calculator that gives users this option and creates a schedule that shows the unpaid interest balance.


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