Question about Computers & Internet
I want to know how the interest is calculated on Recurring deposits made in banks and post offices in india? Also, give a few examples of calculation
Recurring deposit interest is calculation may vary depends on compounding period. You have to invest an amount every month interest will be calculated for the current holding in your recurring deposit account. And every compounding period interest amount will be added into holdings or available balance. You can calculate the Recurring deposit using this recurring deposit calculator
Posted on Sep 12, 2011
It would depend on the institution holding the money. They have the
option to offer interest and how to calculate it. Give me the name of
the institution in India and I will search for their interest policy.
For example some banks interest is calculated on the average balance during the month then that is calculated by .05 = 5% interest. However NO interest is offered if the balance in the account falls below a pre-determined dollar amount.
Posted on Mar 27, 2009
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