Interest Calculator
Calculate simple or compound interest on a claim, decree, or cheque-bounce amount — by rate and period. Free and instant.
Result
Enter a principal, rate, and period to see the interest.
How interest is calculated
Simple interest is calculated only on the principal: Interest = Principal × Rate × Time ÷ 100. Compound interest is calculated on the principal plus accumulated interest, so the amount grows faster depending on how often it is compounded (annually, half-yearly, quarterly, or monthly). This calculator works out both from the amount, the annual rate, and the period you enter.
When lawyers use an interest calculator
Interest arises constantly in practice — computing the sum due in a money suit or recovery matter, the amount claimed in a cheque-bounce complaint under Section 138 of the Negotiable Instruments Act, interest on a decree during execution, and pendente lite and future interest awarded by the court. A quick, accurate figure saves recomputation and errors in pleadings.
Frequently asked questions
- What is the difference between simple and compound interest?
- Simple interest is charged only on the original principal. Compound interest is charged on the principal plus previously accumulated interest, so it grows faster. Which one applies depends on the contract, statute, or the court’s order.
- What interest rate applies to a cheque-bounce or money-recovery claim?
- There is no single fixed rate — courts award interest at their discretion (rates commonly seen range from about 6% to 18% per annum), subject to any agreed contractual rate or statute. Use the rate directed in your matter; this tool does not decide the applicable rate.
- Is this interest calculator free?
- Yes — unlimited calculations, free, with no sign-up. It is a reference tool; verify the applicable rate and period for your matter.
Reference only — not legal advice. Verify with the official bare act and consult an advocate.