The basic calculation formula of savings deposit interest is: interest = principal × deposit term × interest rate.
Second, the conversion of interest rates.
The conversion relationship among annual interest rate, monthly interest rate and daily interest rate is:
Annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (days);
Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days);
Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
Pay attention to the consistency with the deposit period when using interest rates.
Third, the starting point of interest calculation
1. The value point of the savings deposit is RMB yuan, and no interest is paid for the points below RMB yuan.
2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid.
3. Except that the current savings are settled on an annual basis and the interest can be converted into principal, regardless of the deposit period, the interest of other savings deposits will be paid off with the principal at the time of withdrawal, excluding compound interest.
IV. Calculation of Deposit Term
1, the term of deposit should be calculated at the beginning rather than at the end.
2, regardless of the big month, small month, flat month, leap month, every month is calculated as 30 days, and the whole year is calculated as 360 days.
3. The maturity date of all kinds of deposits shall be calculated on an annual and monthly basis. If the account opening date is the missing date of the expiration month, the expiration date should be the last day of the expiration month.
Verb (abbreviation of verb) calculation of interest on foreign currency savings deposits
The deposit interest rate of foreign currency savings shall be subject to the interest rate announced by the People's Bank of China. The savings shall be in the original currency, and the interest shall be calculated in the original currency (the secondary currency can be converted into RMB according to the foreign exchange quotation of the day). Its interest-bearing provisions and calculation methods are compared with RMB deposit methods.