Calculate simple interest for FY 2025-26 with our free Simple Interest Calculator, tailored for Indian users. Estimate interest earned on savings or short-term fixed deposits, or interest paid on loans, by entering your principal amount, annual interest rate, and duration.
Simple interest is ideal for short-term financial planning, offering straightforward calculations for secure investments or loan agreements. Use our tool to make informed decisions for FY 2025-26!
A Simple Interest Calculator is an online tool that estimates the interest earned or paid on a principal amount, based on the annual interest rate and duration, using the formula I = P * R * T / 100.
Simple interest is calculated using the formula I = P * R * T / 100, where I is the interest, P is the principal amount, R is the annual interest rate, and T is the time in years.
In FY 2025-26, simple interest is used for short-term fixed deposits (e.g., <6 months), certain savings accounts, and some loans where interest is not compounded.
Yes, simple interest from investments like fixed deposits is taxable under the investor’s income tax slab in FY 2025-26. TDS may apply if interest exceeds ₹40,000 (₹50,000 for senior citizens) annually.