# Interest Calculator for Legal Claims — Niyam

General-purpose simple and compound interest calculator. Useful for decree interest, maintenance arrears, refunds, and cheque-dishonour claims.

## Modes

- **Simple interest**: SI = P × R × T (T in years, using 365 days/year)
- **Compound interest**: CI = P × (1 + R/n)^(n×T) − P
  - Compounding frequencies: annually, semi-annually, quarterly, monthly

## Period input

- Enter start and end dates (tool computes days), or
- Enter number of days directly

## Relevant law

**CPC s. 34**: Courts may award interest on the principal sum adjudged from the date of suit to the date of decree (pendente lite), and further interest from decree to payment. Post-decree rate capped at 6% p.a. under s. 34(2) unless otherwise directed.

**NI Act s. 138**: Compensation on dishonoured cheque claims may include interest from the date of dishonour.

**Consumer Protection Act 2019, s. 39**: Consumer forums may award interest on refund/compensation amounts.

## Disclaimer

General-purpose arithmetic tool. Not jurisdiction-specific. CPC s. 34 rate caps and court-specific rules apply to decree interest — verify with counsel.

https://niyam.ai/tools/interest-calculator
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