What is Interest Calculator?

The Interest Calculator is a free online tool that accurately calculates interest for deposits, savings, loans, and more. You can compare the difference between simple and compound interest and predict the maturity amount of term deposits and savings in advance. Even without knowing complex interest calculation formulas, just enter the principal, interest rate, and period to instantly check the final amount and interest earned. It can be useful for financial decision-making such as investment product comparison, financial planning, and savings goal setting, and helps intuitively understand the power of compound interest through calculation results.

How to Use

1. Select 'Deposit (simple/compound)' or 'Savings' from the top tab for the financial product you want to calculate.
2. Deposit mode: Enter principal, annual interest rate, period and select simple or compound interest.
3. Savings mode: Enter monthly deposit amount, annual interest rate, and period.
4. The maturity amount, total interest, and return on principal are automatically calculated and displayed.

Use Cases

• •Calculate maturity amount in advance before opening bank term deposit to compare products
• •Adjust monthly savings deposit to calculate period needed to achieve target amount
• •Compare actual profit difference between simple and compound interest products
• •Calculate loan interest to predict total repayment amount
• •Simulate compound interest effect for long-term investment to establish financial plan
• •Calculate interest income by period when depositing severance pay or bonuses

Notes

Results from this calculator are for reference only. Actual interest on financial products may vary due to taxes (interest income tax 15.4%), preferential rates, early withdrawal, etc. Please contact the relevant financial institution for accurate interest and maturity amounts. Simple interest only accrues on principal, while compound interest accrues on both principal and interest, providing greater long-term returns. Savings accrue less interest than deposits due to monthly fixed deposits, but have a forced savings effect.