Daily Interest Calculator
Enter the principal and annual interest rate to find the daily interest.
Result
How to use
- Enter your values in the fields above.
- Press Calculate to see your result instantly.
- Use the Share button to copy a link to your result.
About this calculator
The daily periodic rate is simply the annual interest rate divided by 365, and multiplying it by the principal gives the amount of interest that accrues on a balance for a single day. Lenders and card issuers use this rate every day: credit cards typically calculate interest daily on the outstanding balance, mortgages compute per diem interest for closing statements, and many loans use it to prorate interest for a partial period.
Multiplying the daily figure by 30 or 365 gives a rough monthly or yearly equivalent, which is useful for comparing a daily accrual against a stated monthly or annual cost. Because interest compounds in practice, this simple daily-accrual method is an approximation — it is most accurate for short periods or accounts that do not compound daily.
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