On 18th Sep 2009 my total balance was 69347 and interest credited on 31 mar 2010 is 3,681.00 that is 5.3 % of my balance. so where is 8% interest ?????
Re: Interest Calculated
by ALARK SINGH on Feb 07, 2012 10:59 PM Permalink
Pls check your balance on 31-Mar of 2009 and then calculate the interest @ 8% and you will have the right figure. The interest is calculated from 1-April of a year to 31-March of subsequent year.
