Tool Introduction
The Loan Interest Calculator is a free online tool that helps users quickly calculate loan interest payable and total repayment amount. It supports flexible input of daily, monthly, or annual interest rates, with corresponding selection of periods in days, months, or years, suitable for various borrowing, investment, and financial scenarios.
Calculation Method
This tool uses the simple interest calculation method, meaning interest is not compounded on the principal. The formula is as follows:
利息 = 本金 × 利率 × 周期
还款总额 = 本金 + 利息
How to Use
- Enter the loan amount (in CNY)
- Select the interest rate type: daily, monthly, or annual rate
- Enter the corresponding rate value (e.g., 0.05 represents 5%)
- Select the period type: days, months, or years
- Enter the period value (e.g., 3 months, 180 days)
- Click "Calculate Now" to get the result
Calculation Formula
Assuming the loan amount is P, the interest rate is r, and the period is t, then:
Interest I = P × r × t
Total repayment F = P + I
Here, r must be consistent with the unit of t. For example, if the period is in months, r should be the monthly rate.
Important Notes
- Enter the interest rate in decimal form, e.g., enter 0.05 for 5%.
- This tool only supports simple interest calculation and does not include compound interest, fees, or other factors.
- The calculation results are for reference only. The actual amount is subject to the contract with the bank or lending institution.