Daily Interest Calculator
Calculate daily interest on loans, savings accounts, credit cards, and investments. Determine interest costs or earnings based on principal amount, interest rate, and time period.
Step 1: Principal & Interest Rate
Understanding Interest Types
Simple interest is calculated only on the principal. Compound interest is calculated on principal plus accumulated interest. Daily accruing interest is common for savings accounts and loans.
Step 2: Time Period & Currency
About Daily Interest
Daily interest calculations are essential for loans, savings accounts, and credit cards. The calculation basis (365 vs 360 days) can affect the total interest amount, especially for large principals or long terms.
Daily Interest Calculation Results
Daily Interest Amount
Interest Type Comparison
| Interest Type | Daily Interest | Total Interest (30 days) | Total Amount |
|---|
Interest Accumulation Over Time
Daily Interest Formula
Daily Interest = (Principal × Annual Rate) ÷ Days in Year
For simple interest: Daily Interest = (Principal × Annual Rate) ÷ 365. For compound interest: Amount = Principal × (1 + Rate/n)^(n×t) where n is compounding frequency.
Need Professional Financial Advice?
Connect with our financial experts for personalized interest calculations, loan comparisons, and investment strategy recommendations tailored to your financial goals.
Get Professional Advice