The interest rate on an overdraft is computed by subtracting the amount withdrawn from the total sanctioned limit or line of credit. Divide the current Annual Percentage Rate (APR) by 365 (days in a year) or 366 in a leap year to get the daily periodic rate.
Interest is imposed on money removed from a bank or building society account that exceeds the credit balance.
By pressing F11 on the keyboard, you may get to the Tally Features Screen from the Tally Gateway. Enable the option to initiate interest calculation by typing 'Yes' in the company feature screen, as well as the option to keep bill-by-bill details: to the affirmative
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