Village & Bank Interest Calculator (Monthly/Yearly)
Calculating interest can be confusing because banks and private lenders use different methods. Our Multi Interest Calculator solves this by supporting both Monthly Interest (commonly used in villages/private loans) and Yearly Interest (used by Banks/FDs).
🔥 Why use this tool?
Most online calculators only support "Yearly" interest. But in India, many loans are given on a "2% per month" basis (Desi Byaj). Our tool calculates this accurately, including the exact days between dates.
Most online calculators only support "Yearly" interest. But in India, many loans are given on a "2% per month" basis (Desi Byaj). Our tool calculates this accurately, including the exact days between dates.
🛠️ Key Features
- Simple Monthly: For calculating private loans where interest is charged every month (e.g., ₹2 interest per ₹100).
- Simple Yearly: For standard Bank Loans and Fixed Deposits.
- Date-to-Date Precision: Enter your "Given Date" and "Return Date", and we calculate the exact interest for years, months, and days.
- WhatsApp Share: Instantly share the calculation breakdown with the borrower or lender.
❓ Frequently Asked Questions
What is the difference between Monthly and Yearly interest?
If someone says "2% interest", you must ask if it is Monthly or Yearly.
• 2% Monthly = 24% Yearly (Very expensive, common in informal loans).
• 2% Yearly = 2% Total (Very cheap, common in savings accounts).
• 2% Monthly = 24% Yearly (Very expensive, common in informal loans).
• 2% Yearly = 2% Total (Very cheap, common in savings accounts).
Does it calculate for partial days?
Yes! If you took a loan for "3 Months and 5 Days", our calculator computes full interest for the 3 months and accurate partial interest for the 5 days.
Is this accurate for Bank FDs?
Yes. Select "Compound Yearly" for Fixed Deposits (FD) or "Simple Yearly" for standard savings calculations.