Interest Calculation formula

Calculation formula
The savings deposit interest rate is stipulated by the national unification, the People's Bank of China listed notice. Interest rate is also known as interest rates, is a certain date of the ratio of the amount of the principal, generally divided into annual interest rate, monthly interest rate, three of the daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed in thousand cents, and the daily interest rate is expressed in extreme ratio . If nine cents per annum is written as 9%, that is, every hundred yuan deposit has a regular one-year interest of 9 yuan, monthly six is written as 6, that is, every thousand yuan deposit January interest 6 yuan, the daily interest of five cents is written as 1.5, that is, each million yuan deposit daily interest 1.5 yuan, the current China's savings deposit monthly interest rate. for the convenience of interest, three kinds of interest rate can be converted, the conversion formula is: annual interest rate ÷12= Month interest rate, monthly interest rate ÷30= Day interest rate, annual interest rate ÷360= Day interest rate.

start of Interest
Savings deposit Interest Calculation, the principal of the "Yuan" as the starting point, the angle below the yuan, no interest, the amount of interest calculated to a sub-position, sub-position rounded below. The subparagraph is counted to the point, and the total interest is rounded up below.

Classification Status
The formula of interest calculation is divided into the following four kinds of situations:

First, the basic formula of calculating interest, the basic formula of interest calculation of savings deposit is: interest = principal X deposit period × interest rate;
Second, the conversion of the interest rate, including the annual interest rate, the monthly interest rate, the daily interest rate of three conversion relationship is: annual interest rate = monthly interest rate x12 (month) = daily interest Rate x360 (day); monthly interest rate = annual interest rate ÷12 (month) = daily interest rate x30 (days), daily interest rate = annual interest Rate ÷360 The use of interest rates should be noted in accordance with the deposit period;
Thirdly, the starting point of interest calculation formula, 1, the starting point of the savings deposit is the yuan, the angle below the yuan does not pay interest, 2, the interest amount is calculated to the point, the actual payment will be rounded to the sub-position, 3, in addition to the current savings annual settlement can be transferred to the principal interest, various other savings deposits regardless All shall be drawn at the time of the clearing, regardless of the re-interest;
The calculation of the deposit period in the formula of interest calculation:

1, calculate the time to take the calculation of the head is not the end of the method;
2, regardless of Otsuki, Xiao Yue, ping Yue, leap month, monthly according to 30 days calculation, all year by 360 days calculation
3. The expiry date of various deposits shall be calculated on the basis of the year-to-month calculation, if the date of account opening is the due month, the end of the expiry month will be the expiry date.

Provisions for the calculation of deposit periods
1, calculate the head is not the end, the calculation of interest, the number of days of deposit is not counted, that is, from the date of deposit to the day before the withdrawal;
2, regardless of leap years, common year, not divided into months, months small, year-round according to 360 days, each month according to 30 days calculation;
3, on the year, on the month, on the day calculation, the maturity of the various time deposits to the year, to the month, to the day prevail. That is, from the date of deposit to the same day of the same month is a pair of years, deposited to the same day next month for the month;
4, the regular savings due date, such as when the period is not office, can be drawn one day in advance, depending on the maturity of the calculation of interest, formalities and early withdrawal.
Interest Calculation formula: Principal x Annual interest Rate (percentage) x deposit Period
If interest tax is charged again x (1-5%)
Total = principal + interest
The calculated formula for accrued interest is: accrued interest = principal x interest rate x time
Accrued interest is accurate to 2 digits after the decimal point and the accrued days are calculated as the actual number of days held.
PS: The deposit period should be relative to the interest rate, not necessarily the annual interest rate, or the daily interest rate and the monthly interest rate.

Interest Calculation formula