Deposit Products Interest Calculation Methods in Deposit Accounts
| Interest Calculation Methods in Deposit Accounts |
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| Last Updated on Thursday, 03 May 2012 15:44 |
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You can calculate the interest on deposit accounts based on the Average Balance during the period, or on the Minimum balance during the period.
Average Balance During Period If you choose this method, Mambu will calculate the average balance that the client had in the account during the period between postings of interest and then calculate the interest on that amount.
Minimum Balance During Period With this method, Mambu will use the minimum balance the client had in the account during the period and calculate the interest on that amount.
Date for Posting Into the AccountHere you can define the date when the interest is actually accrued to the client's account. So this option will set the period that goes between two postings of interest.
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