Everyday Spends
Daily Interest
Calculate daily interest
About the Daily Interest calculator
Free Daily Interest Calculator for simple and compound interest on short-term savings, loans, and investments. Calculate daily interest earnings and total returns for any time period.
How the maths works
Daily Interest Formula
Daily Interest = Principal × (Annual Rate ÷ 365) ÷ 100- Daily Interest
- Interest earned or charged per day
- Principal
- Initial amount invested or borrowed
- Annual Rate
- Yearly interest rate percentage
- Days
- Number of days for calculation
A worked example
30-Day Fixed Deposit
| Principal | ₹1,00,000 |
| Annual Rate | 8% |
| Period | 30 days |
Daily interest: ₹22, Total: ₹658
How to use it
- Enter principal amount
- Set annual interest rate
- Choose number of days
- Select simple or compound interest
- Get daily and total interest breakdown
What it accounts for
- Simple and compound interest calculations
- Flexible time periods (days to years)
- Daily interest rate breakdown
- Comparison between interest types
- Quick preset buttons for common periods
Why it is worth working out
- Plan short-term investments
- Calculate loan interest costs
- Compare investment options
- Understand daily earnings
Questions people ask
When is interest calculated daily?
Savings accounts calculate on the daily closing balance, credit cards charge daily from the transaction date once you carry a balance, and overdrafts and many business loans accrue daily. Anywhere the balance moves constantly, interest is daily.
How does credit card interest actually work?
Once you fail to pay in full, the interest-free period disappears and interest is charged daily from each transaction date — including on new purchases. A 3.5% monthly rate is about 42% a year, and it compounds. Paying the minimum keeps this running indefinitely.
How is savings account interest calculated?
On the closing balance each day, accumulated and paid quarterly. Money that sits for half a month earns for half a month, which is why timing large transfers around the quarter has almost no effect while keeping a higher average balance does.
Read more on this
- How a credit card turns ₹50,000 into ₹1.4 lakh — Card interest is quoted monthly, compounds daily, and starts the moment you pay less than the full amount. Each of those three facts costs money.
This calculator is for information and education. It is not financial advice — see the disclaimer.