Knowing The Calculate Of Interest Savings
Why it is necessary to understand the calculation of interest on savings?
When opening a savings account, you'll want to understand how to calculate interest on savings, because of the different calculation methods will produce different amount of interest savings anyway.
By knowing how to calculate interest on savings, you can calculate how much savings the minimum balance that must be maintained so that you do not cut off the principal deposits by bank charges.
Interest Calculation Method
In general there are three methods of calculating interest on savings is: based on the lowest balance, average balance and daily balance. Some banks apply a number of days in 1 year 365 days, but there also apply the amount of flowers 360 days.
How to Calculate Savings Interest Based Bank Balance Lowest
How to calculate the interest, the interest you earn in a month depending on the amount of your lowest balance.
How to Calculate Interest Savings Bank Based on Average Balance
Flowers in a month is calculated based on the average balance in the current month. Average balance is calculated based on the amount of savings every day ending balance in the current month, divided by the number of days in the month.
How to Calculate Interest Savings Bank By Daily Balance
Interest is calculated based on the daily balance. Interest on savings in the current month is calculated by adding the results of the calculation of interest every day.
When opening a savings plan, you should not only think about how much money you need in the future. You also need to figure out how your money can grow even more.
Fortunately, this is easier to do than it sounds. In fact, you can not develop by simply putting your money under the pillow or in a piggy bank. If you save money in the bank, it can guarantee that over time, you will get more money without doing anything to it.
This is because banks provide interest. Instead of you who have opened an account and give your money in the bank, the bank agrees to increase your money by giving a certain percentage of interest each year.
Initially, the interest is not seen as big money. But the flowers grow over time and can add up quickly - thanks moneymaker tool known as compound interest / compound interest.
Large Amount of Money
Still not interested? Yes, 12 years is a long time to double your money. But if you just save it once and let it. If you continue to add to the savings, your money is really going to thrive.
Let's look at 6% interest-bearing account that once again. If you save Rp. 1,000,000 more each year for 40 years, you will have more than Rp. 164 047 684 and get more than Rp. 124 million of interest. So, save regularly and begin immediately.
When opening a savings account, you'll want to understand how to calculate interest on savings, because of the different calculation methods will produce different amount of interest savings anyway.
By knowing how to calculate interest on savings, you can calculate how much savings the minimum balance that must be maintained so that you do not cut off the principal deposits by bank charges.
Interest Calculation Method
In general there are three methods of calculating interest on savings is: based on the lowest balance, average balance and daily balance. Some banks apply a number of days in 1 year 365 days, but there also apply the amount of flowers 360 days.
How to Calculate Savings Interest Based Bank Balance Lowest
How to calculate the interest, the interest you earn in a month depending on the amount of your lowest balance.
How to Calculate Interest Savings Bank Based on Average Balance
Flowers in a month is calculated based on the average balance in the current month. Average balance is calculated based on the amount of savings every day ending balance in the current month, divided by the number of days in the month.
How to Calculate Interest Savings Bank By Daily Balance
Interest is calculated based on the daily balance. Interest on savings in the current month is calculated by adding the results of the calculation of interest every day.
When opening a savings plan, you should not only think about how much money you need in the future. You also need to figure out how your money can grow even more.
Fortunately, this is easier to do than it sounds. In fact, you can not develop by simply putting your money under the pillow or in a piggy bank. If you save money in the bank, it can guarantee that over time, you will get more money without doing anything to it.
This is because banks provide interest. Instead of you who have opened an account and give your money in the bank, the bank agrees to increase your money by giving a certain percentage of interest each year.
Initially, the interest is not seen as big money. But the flowers grow over time and can add up quickly - thanks moneymaker tool known as compound interest / compound interest.
Large Amount of Money
Still not interested? Yes, 12 years is a long time to double your money. But if you just save it once and let it. If you continue to add to the savings, your money is really going to thrive.
Let's look at 6% interest-bearing account that once again. If you save Rp. 1,000,000 more each year for 40 years, you will have more than Rp. 164 047 684 and get more than Rp. 124 million of interest. So, save regularly and begin immediately.
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