Simple Interest Made Easy: Monthly Interest Calculator Explained

Simple interest is a quick way to calculate interest on a loan or investment over a period of time. It's based on the original principal, interest rate, and time.

📈 Formula for Simple Interest:
Simple Interest (SI) = (P × R × T) / 100
Where:

P = Principal amount

R = Rate of interest per annum

T = Time in years

🔍 Quick Tools to Help You:
Use a simple interest calculator to automate the math.

Try a simple interest EMI calculator to estimate your monthly payments.

Want to avoid manual calculations? Calculate simple interest online with just a few inputs.

For monthly tracking, a simple interest calculator monthly helps break down interest accumulation month by month.

🧠 Example:
If you invest ₹10,000 at 5% for 2 years:
SI = (10000 × 5 × 2) / 100 = ₹1,000