simple interest calculator

Whether you are a creditor who wishes to calculate what they are owed, a debtor what they owe or an insolvency practitioner what to allow on a proof, we hope that our simple interest calculator will prove a helpful tool to you.

To access our simple interest calculator, click here.

Please click here for help in using the simple interest calculator.

For further information or help with any insolvency queries please contact Nick Keitley or Mike Pavitt.

Explanatory note:

Our simple interest calculator is designed to assist only with very basic calculations of interest on any sum (the 'principal sum'), provided that it is a sum upon which interest accrues daily, and that you know the applicable annual rate of interest in advance.  Often the principal sum will be something as simple as the gross amount of an invoice, an acknowledged or agreed debt, or just a notional figure for damages where there has been, or may have been, a breach of contract.

The most useful feature of the calculator is that it will instantly calculate for you the number of days between any 2 dates, which you simply select from the attached mini-calendar.  You might, for example, input a date 30 days from the date of your invoice, and then the date of your letter or other form of demand; in the calculator, these are known as the 'interest from date' and 'interest to date' . It will also tell you the daily rate for continuing interest.