FAQ
Common questions about interest calculations and our calculator.
What is the difference between simple and compound interest?
Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus accumulated interest.
How do I calculate EMI?
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is principal, r is monthly interest rate, and n is loan tenure in months.
What currencies are supported?
We support 10 major currencies: USD, EUR, GBP, INR, JPY, AUD, CAD, CHF, CNY, and SGD.
Is this calculator free?
Yes, completely free. No registration, no hidden fees, no limitations.
How accurate are the calculations?
Results are accurate to two decimal places using standard financial formulas. Actual bank calculations may vary slightly.
What is an amortization schedule?
A table showing each periodic payment broken down into principal and interest components, showing how the balance decreases over time.
Is my data stored or shared?
No. All calculations happen locally in your browser. We never see or store your data.