How is interest computed?
Interest earned is calculated as follows: Interest earned = Prevailing Interest rate x Principal amount x (No. of days Fixed Deposit is held/365 Days) The interest will be computed up to one day before the date of maturity. Both the principal and interest amount will be credite dinto the Cash Investment account on maturity day end. Thus, interest will be accrued based on the prevailing rate of the Cash Investment account. You may wish to perform a subsequent Fixed Deposit placement one day after the date of maturity. The interest rate applicable on the Fixed Deposit will be determined upon placement. Please refer to the options of “Tools & Info”, followed by “Rates” in our website for the prevailing rates.
