Deposit

How is total interest in fixed deposit calculated? 15
r/NepalStock

How is total interest in fixed deposit calculated?

Apparently Prime bank calculates interest amount in days rather than months. If I have FD of 10lakhs for 10% for 6 months. The return I should get is (10%\*1000000)/2 – 5% tax = 47500 but I get slightly lower amount because its calculated in days. Sometimes its 500rs less, sometimes its 1000. Is this the

How is return on Fixed deposit calculated? 19
r/NepalStock

How is return on Fixed deposit calculated?

I just want to understand something. Say a bank says 12% interest on fixed deposit. They also have options for 3 months 6 months 1 yr 2/3/5 years etc. How will the interest be added on my principal amount? Like if i deposit my money in FD for 3 months @ 12% will it be

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