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FAQs

Banks use the formula - The interest rate is computed as: Where "r" is the interest rate, "i" is the number of periods of interest and "t" is time period. So for example, if one period of interest equals to 1 day then one period of interest equals to 365 days. If there are 30 days then one year will be calculated as 30 x 365 x 24 x 7 = 12,370 days. If there are a number of periods equal to a year then it will be calculated as 2 years. It is important to note that the formula only works with borrowing rates and not lending rates, for this reason banks do not come up with this formula on their own but borrow from other sources such as treasury bills or repos etc.

The interest rate on your savings account is very low. Our app will calculate the interest on your savings account based on the Reserve Bank of India guidelines. The way to earn money at the bank is to invest in your savings account. The interest earned on your savings account is often called the banker's bonus so it is possible to earn interest on your savings account by investing in it. To do so, you need to calculate the daily interest earned on the balance in your savings account.

Interest calculation is the process of taking into account other factors to determine the general level of interest in a given topic, along with other factors. Interest calculation is similar to other forms of interest estimation. There are two types of interest calculations. The first type calculates the number of times an event has been mentioned in a given period, for example, how many times adverts have appeared on television. The second type calculates the probability that it will be mentioned again in that period. These are very similar to similar metrics used by advertisers and publishers who want to know how likely their ads will be to get shown again.

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