A simple interest loan only charges interest on your original principal, not the entire balance. You'll often see these for car or personal loans. Keep reading.

With a simple interest loan, interest is based only on principal, and you can easily calculate it to find out the true cost of borrowing. Simple interest isn't just for savings accounts.

Simple interest is not compounded. Instead, the interest on a simple interest auto loan is based on the principal amount rather than the principal and interest combined. Simple interest auto loans ...

Learn how does interest work on a personal loan to save money. This guide explains APR vs. interest and how paying down your ...

Simple interest loans have a flat monthly payment, so there's predictability with payoff as well. As long as you make your monthly payment on time, you'll pay off the loan according to schedule.

Simple interest loans are also relatively easy to understand, as one person from South Carolina who wrote a review on our site pointed out about their personal loan.

With simple-interest loans, you pay a fixed interest rate, while compound-interest rates can be variable. Advertisement: High Yield Savings Offers Earn 4.10% APY** on balances of $5,000 or more ...

Simple interest is based on the principal amount of a loan, while compound interest is based on the principal plus accumulated interest. Learn more in our guide.

The simple interest on this loan would be calculated as 10,000 x .0499 x 10 = $4,990. This means you’d pay $4,990 in interest over the life of the loan. Compound interest.

A simple-interest car loan is a common way to borrow money to buy a car. What's great about simple-interest auto loans is that you can save money with this loan structure when you're buying a ...