Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How is interest calculated?

calculated
0
Posted

How is interest calculated?

0

Interest is assessed if the instalment payments, final payment, or payments on account are not received by the due date. Interest is calculated at 3% above the prime lending rate of the principal banker of the Province and accrues on a daily basis, compounded every 30 days. Interest rates are reviewed quarterly. See our Interest Rates page for more information.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123