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Simple interest calculator

Repo-linked (EBLR): your rate rises by the same 0.25% at the next reset date, unless your lender holds back some of it. Resets happen at least once every three months, so expect the change within about three months of 7 October.
MCLR-linked: your lender's own cost of funds drives the rate and it resets on its own date, often every six or twelve months. The effect arrives later and may be smaller. Our guide to [[blog:eblr-vs-mclr-home-loan|EBLR and MCLR]] explains the difference.
Fixed rate: nothing changes until the fixed period ends.

Interest on the amount you borrowed or saved, with no interest on interest. Then see how much more compounding would add.

Simple interest = principal × rate × time ÷ 100.

Common questions

What is the simple interest formula?

Principal × rate × time ÷ 100.

How is it different from compound interest?

Simple interest is only on the original amount. Compound interest is also on past interest.