Interest Calculator

See how savings or a loan grow over time. Compare simple interest with compound interest at annual, monthly or daily compounding, and follow the balance year by year.

Interest type

Principal amount
Annual rate (%)
Time
Compounding frequency
Interest earned
2,833.59
Total amount
12,833.59
Effective annual rate
5.116%

Step-by-step breakdown

  • A = P(1 + r/n)^(nt)
  • A = 10000(1 + 0.05/12)^(12×5) = 12833.59

Year-by-year breakdown

YearInterest this yearBalance
1511.6210,511.62
2537.7911,049.41
3565.3111,614.72
4594.2312,208.95
5624.6312,833.59
These figures are estimates for planning purposes only and are not financial advice. Real products may apply fees, taxes and different rounding.
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How to use

  1. 1

    Enter the principal amount.

  2. 2

    Set the annual interest rate and the number of years.

  3. 3

    Choose simple interest or compound interest with a frequency.

  4. 4

    Review the total, the interest earned and the yearly breakdown.

Supported formats

Accepts

Produces

FAQ

Simple interest is always calculated on the original principal, while compound interest is calculated on the principal plus the interest already added.

More frequent compounding adds interest more often, so the balance grows slightly faster at the same nominal rate.

The rate that a once-a-year compounding would need in order to produce the same yearly growth as your chosen frequency.

Yes for interest accrual, but real loans usually involve regular repayments, fees and different rounding, so treat the figures as an estimate.

No. The calculator is an educational tool for planning and comparison only.

About this tool: Interest Calculator

See exactly what borrowing or saving costs

The Interest Calculator projects the growth of a loan or savings balance over time, supporting both simple and compound interest. Enter the principal, annual rate, term and compounding frequency, and see the total interest and final balance at every interval.

Compound interest is famously hard to estimate mentally — even small rate differences snowball over years. Seeing a 5-year loan's interest side by side at two different rates, or a savings balance with monthly versus annual compounding, turns an abstract percentage into a concrete decision.

The schedule is computed locally in your browser with standard financial formulas. Use it to compare loan offers, sanity-check bank quotes, set savings expectations and understand amortisation before you sign anything. It is an estimator, not a substitute for your lender's official schedule.

Like every Piclizer tool, this one runs entirely in your browser — your files stay on your device.

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