Savings Interest Calculator
Estimates simple interest earned on a savings deposit. Enter a principal, an annual rate percent, and a term in years. Interest is principal times rate times years; ending balance is principal plus interest. Results are estimates, not financial, tax, or investment advice.
Savings interest calculator
Simple interest on a deposit: interest = principal × rate × years.
Results are estimates only, not financial, tax, or investment advice. Tallymill is not a bank and does not recommend products or accounts.
How to use
- Enter principal, an annual rate percent, and a term in years.
- Read interest earned and ending balance. This is not a compounding-frequency calculator.
- Money is rounded to the nearest cent (half-up). Math uses full precision.
Results
Enter principal, annual rate percent, and term in years to see interest earned and ending balance.
Runs in your browser. Nothing is uploaded.
Frequently asked questions
How does this savings interest calculator work?
Enter a principal, an annual rate percent, and a term in years. Interest is principal times rate times years. Ending balance is principal plus that interest. Math runs in your browser. Nothing is stored.
Is this the same as the daily compound interest calculator?
No. This page estimates simple interest on a savings deposit. It does not take a compounding frequency and does not use daily compounding. Ending balance is principal plus P × r × t. For daily compounding (n = 365), use the Daily Compound Interest Calculator.
What formula does this savings interest calculator use?
Interest = principal × (annual rate percent ÷ 100) × years. Ending balance = principal + interest. A 0% rate returns the original principal. Money is shown to the nearest cent, half-up. The page keeps full precision inside.
Is this financial, tax, or investment advice?
No. Results are estimates only. This is not financial advice, tax advice, or investment advice. Tallymill is not a bank and does not recommend products or accounts. Confirm figures with your records or a qualified professional.
Do I need an account? Do you store the numbers I enter?
No. The math runs in your browser. There is no signup, and Tallymill does not save your principal, rate, or term. Refreshing the page clears the form.