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The savings interest is calculated as simple interest. (P*n*r)/100 where P is the principal, n is the number of years and r is the rate of interest. The principal considered for this is the minimum balance maintained in the account between the 10th and 30th of that calendar month. Let us say on the 4th you had Rs. 5000 and on 10th you had Rs. 7000, on 18th Rs. 6500 and on 27th Rs. 5000, the amount considered for interest for that month is Rs. 5000/- Interest for that month = 5000 * (1/12) * 3.5 / 100 = Rs. 14.58/-
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∙ 15y ago
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How do you calculate how much interest rate should be given for 6 month saving deposit?
I calculate the interest rate should be given for 4 month saving deposit
Best saving account interest rates?
saving account interest rate is now 4% that is best
How do you calculate private sector saving?
you dont
What savings accounts have the best rates according to Money Saving Expert?
The saving accounts that have the best interest rates according to Money Saving Expert is a Sandantar account which has a astonishing 3% annual interest rate.
Where can you find the best interest saving rates?
You can only find the best interest saving rates through comparison. First, you find interest rates from different company, and see which one offers the best.
How do you calculate how much interest rate should be given for 6 month saving deposit?
I calculate the interest rate should be given for 4 month saving deposit
How do you calculate interest in saving account Ethiopia?
the minimum balance witin the month times times pevailing interest rate multiplied by month and divide by 12
Calculate the simple interest you would receive in five years on a saving account that earns 7.5 annual interest Your beginning balance is 1236.59?
The simple interest over a period of five years is $463.70
Best saving account interest rates?
saving account interest rate is now 4% that is best
How do you calculate the value of household saving?
formula household saving
How do you calculate aggregate saving?
You can calculate aggregate saving by using the power of compounding. The earlier you start saving, the faster you can aggregate or compound your existing savings in the bank.
How do you calculate private sector saving?
you dont
Is interest applied to the saving account?
Yes, most savings accounts pay interest.
What do banks pay to people with a saving account?
bank pays bonus and interest on saving accounts
Where can you find the best interest saving rates?
You can only find the best interest saving rates through comparison. First, you find interest rates from different company, and see which one offers the best.
What savings accounts have the best rates according to Money Saving Expert?
The saving accounts that have the best interest rates according to Money Saving Expert is a Sandantar account which has a astonishing 3% annual interest rate.
Interest on saving account and current?
Interest on Savings acc = 3 - 4% Interest on current acc = 0%
