Everyone has saving bank account in bank, but lot of persons do not check their interest credit in saving bank pass book. Recently , Reserve Bank of India has issued notification that the interest on saving account will be given on daily product basis w.e.f. 01.04.2010. To calculate interest in a minute and comparison of interest amount with present and w.e.f. 01.04.2010, the following calculator will be helpful for you.
A example is given in calculator and you can change rate of interest and debit and credit amount as per your need. Only white cell is available to enter data. Other fields are locked due to formulas. Month wise interest can be checked through this excel utility. You can also change maximum days in a month.
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Good News for all that Reserve Bank of India , has issued Notification for allowing interest on saving Bank Accounts on Daily basis. Presently bank is paying interest on savings on the minimum balance between 10 to last day of month.Now interest will be given by bank on daily product basis w.e.f. 1st April,2010. If you are not clear regarding the effect of saving bank interests calculation, read following example for clarity.
CLICK HERE TO READ RBI CIRCULAR
Example:-
Your Saving Bank Account Detail as Per Bank is As Under
Date 01.02.10 By Opening Balance Cr Rs. 100025.00 Bal. 100025.00
Date 15.10.10 To Withdrwal Dr. Rs. 90000.00 Bal. 10,025.00
Date 16.10.10 By Credit Cr Rs. 90000.00 Bal. 100025.00
Interest @ 3.50 % in present system was Rs. 29.24 on Rs. 10025.00 only.
If you have opening balance then you can use Debit or Credit Column of 1 st column (Day(Date)) in above calculator
In this way if days are less than in a month from 31, you can use debit or credit balance for setting zero balance for 31 day.
CLICK HERE TO ONLINE CALCULATOR
CLICK HERE TO DOWNLOAD EXCEL CALCULATOR
OR DOWNLOAD VIA MIRROR 2
A example is given in calculator and you can change rate of interest and debit and credit amount as per your need. Only white cell is available to enter data. Other fields are locked due to formulas. Month wise interest can be checked through this excel utility. You can also change maximum days in a month.
Good News for all that Reserve Bank of India , has issued Notification for allowing interest on saving Bank Accounts on Daily basis. Presently bank is paying interest on savings on the minimum balance between 10 to last day of month.Now interest will be given by bank on daily product basis w.e.f. 1st April,2010. If you are not clear regarding the effect of saving bank interests calculation, read following example for clarity.
CLICK HERE TO READ RBI CIRCULAR
Example:-
Your Saving Bank Account Detail as Per Bank is As Under
Date 01.02.10 By Opening Balance Cr Rs. 100025.00 Bal. 100025.00
Date 15.10.10 To Withdrwal Dr. Rs. 90000.00 Bal. 10,025.00
Date 16.10.10 By Credit Cr Rs. 90000.00 Bal. 100025.00
Interest @ 3.50 % in present system was Rs. 29.24 on Rs. 10025.00 only.
If you have opening balance then you can use Debit or Credit Column of 1 st column (Day(Date)) in above calculator
In this way if days are less than in a month from 31, you can use debit or credit balance for setting zero balance for 31 day.
CLICK HERE TO ONLINE CALCULATOR
CLICK HERE TO DOWNLOAD EXCEL CALCULATOR
OR DOWNLOAD VIA MIRROR 2
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