Interest Rate Converter (Annual, Monthly, Per-Diem)
Enter an annual rate to instantly convert it to monthly, daily, per-diem (interest on ¥100 per day), and effective annual rates. Great for comparing loans, card loans, and savings.
Input
Result
Converting an annual rate of 15%
1.25% (monthly)
Annual
15 %
Monthly
1.25 %
Daily
0.041096 %
Per-diem (¥100 / day)
4.109589 sen
Effective annual (Monthly (12×/year) compounding)
16.075452 %
Monthly = annual ÷ 12, daily = annual ÷ 365, and the per-diem rate (hibu) = annual ÷ 365 × 100, expressed in sen as the one-day interest on ¥100 of principal. The effective annual rate converts the nominal rate at the chosen compounding frequency into an equivalent yearly compounded rate, calculated as (1 + annual ÷ 12)^12 − 1.
How it works
- The monthly rate is the annual rate divided by 12 (monthly = annual ÷ 12), a simple pro-rata conversion.
- The daily rate is the annual rate divided by 365 (daily = annual ÷ 365), treating one year as 365 days.
- The per-diem rate (hibu) is the interest in sen on ¥100 of principal held or borrowed for one day, calculated as annual ÷ 365 × 100 (¥1 = 100 sen).
- The effective annual rate (EAR) is the nominal rate run at the chosen compounding frequency, converted to a yearly compounded rate via (1 + annual ÷ m)^m − 1, where m is the number of compounding periods per year. Higher compounding frequency makes the EAR exceed the nominal rate.
- The compounding frequency can be set to yearly, semiannual (2×), quarterly (4×), monthly (12×), or daily (365×) for comparing effective annual rates.
- Results are approximate. Actual interest depends on each institution's day-count conventions, rounding, and contract terms. Confirm exact amounts with your contract or financial institution.
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Interest Rate Converter (Annual, Monthly, Per-Diem)