What’s the difference between simple and compound interest?

Simple interest is calculated only on the original principal. Compound interest is calculated on the principal plus any previously earned interest, so it grows faster.

How do I use this calculator?

Enter principal, annual rate, and time (years or months). Choose a compounding frequency, and the tool will show interest and ending balance for both simple and compound interest.

Is this calculator free to use?

Yes. All Optiml calculators are free to use without registration.

OPTIML Calculators | Simple vs compound interest calculator

Principal, rate and time inputs

Principal amount:

Gross interest rate, %:

Savings period: Years

Compound frequency: