Daily Interest Rate Calculator (with Examples)

This tool calculates the Daily Interest rate from the Annual interest rate. It also calculates the interest accrued every day.



  • Annual Interest Rate
  • Principal Amount

Example Calculation

Suppose you have a savings account with an annual interest rate of 5%, and your principal amount is $10,000. Using the calculator, here’s the daily interest rate and amount:

  1. Annual Interest Rate: 5% or 0.05
  2. Daily Interest Rate: 0.0137%
  3. Daily Interest: $1.37

So, the daily interest accrued on your savings account would be $1.37.

What is Daily Interest?

Daily interest refers to the amount of interest that accrues on a loan, deposit, or investment each day. This calculation is crucial for financial products that compound interest daily, such as savings accounts, credit cards, and some types of loans.

Why Use a Daily Interest Rate Calculator?

Using a daily interest rate calculator can help you:

  • Track Interest Accrual: Understand how much interest is being added each day.
  • Plan Payments: Determine the impact of daily interest on loan repayments.
  • Maximize Savings: Optimize savings strategies by understanding daily interest growth.
  • Compare Financial Products: Evaluate different accounts and loans based on their daily interest rates.

Related Posts