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Total payable
₹1,24,000
Interest ₹24,000 on principal ₹1,00,000
Total interest
₹24,000
Principal
₹1,00,000
Total payable
₹1,24,000
Interest / month
₹2,000
Interest / year
₹24,000
Interest / day
₹67
Formula used
Interest = (P × r ÷ 100) × months + (monthly ÷ 30) × extra days
₹2,000/mo × 12 mo
= ₹24,000
Principal vs interest
Principal ₹1,00,000
Interest ₹24,000
Accrual
This tool is for calculation and record-keeping only. It is not financial or legal advice. Please follow applicable rules and maintain proper written agreements.
Simple interest is calculated only on the principal. Compound interest is calculated on the principal plus interest already added, so it grows faster over time.
Many informal loans use a flat monthly rate (for example 2% per month). Choose “monthly fixed” and enter the per-month rate; interest = principal × rate × number of months.
For each loan: interest is computed from the principal, rate and the time between start and due dates; total payable = principal + interest; remaining = total payable − repayments recorded.
Closed when nothing remains, overdue when the due date has passed with a balance pending, partially paid once any repayment is recorded, otherwise active.
Signed-in users save to their Clikit account (private to them). Guests save only in this browser’s local storage, which can be lost if browser data is cleared.
This is a calculation and tracking aid only. Always keep proper written agreements and follow the lending and tax rules that apply to you.
It instantly calculates interest in five modes — Simple, Monthly, Yearly, Date-based and Compound — showing the interest amount, total payable, per-day / per-month / per-year breakdown, the formula used, and charts.
Use Monthly mode: monthly interest = principal × monthly rate ÷ 100, multiplied by the number of months. Any extra days are charged at the monthly interest ÷ 30 per day. Example: ₹50,000 at 2%/month for 3 months 10 days = ₹3,333.
Use Yearly mode: interest = principal × yearly rate × time in years ÷ 100. Months are converted as months ÷ 12 and days as days ÷ 365.
Use Date-based mode. Pick a start and end date — interest is counted from the start date up to, but not including, the end date (Jan 1 → Jan 31 = 30 days). Choose a monthly or yearly rate and a day-count basis.
A monthly rate applies to each month; a yearly rate applies per year. To compare them, annualise the monthly rate — for simple interest, a 2% monthly rate is roughly 24% per year.
For simple interest, yes — 2% × 12 months = 24% per year. With compounding it is higher (about 26.8% effective), because interest also earns interest.
Simple interest is charged only on the principal (SI = P × R × T ÷ 100). Compound interest is charged on the principal plus accumulated interest (A = P × (1 + r/n)^(n×t)), so it grows faster.
An optional advanced section for people who lend money — track borrowers, loan amounts, interest, due dates, repayments, remaining balance and loan status, with reports and charts.
If you are signed in, borrowers, loans and repayments are saved to your Clikit account. As a guest, they are saved only in this browser using local storage.
No. Account records are private to your login and never exposed to other users. Guest records never leave your browser.
Remaining balance = principal + interest − total repayments recorded for that loan. A loan is marked closed when the balance reaches zero, and overdue if the due date has passed with a balance still pending.
Yes. You can copy the calculator result and export your lender records (borrower, principal, interest, payable, paid, remaining, due date, status) as a CSV file.
No. It is a calculation and record-keeping tool only. Actual interest, repayment terms, legal enforceability, taxes and lending rules vary — follow applicable laws and keep proper written agreements.
Disclaimer: This tool is for calculation and record-keeping only. Actual interest, repayment terms, legal enforceability, taxes, and lending rules may vary. Please follow applicable laws and maintain proper written agreements.