This paper proposes two improved interleaved modular multiplication algorithms based on Barrett and Montgomery modular reduction. The algorithms are simple and especially suitable for hardware implementations. Four large sets of moduli for which the proposed methods apply are given and analyzed from a security point of view. By considering state-of-the-art attacks on public-key cryptosystems, we show that the proposed sets are safe to use, in practice, for both elliptic curve cryptography and RSA cryptosystems. We propose a hardware architecture for the modular multiplier that is based on our methods. The results show that concerning the speed, our proposed architecture outperforms the modular multiplier based on standard modular multiplication by more than 50 percent. Additionally, our design consumes less area compared to the standard solutions.