Need A Financial Product Forums Loans What is discounted rate for monthly interest pay

This topic contains 1 reply, has 2 voices, and was last updated by  Mohit Mahajan 2 years, 8 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #48464

    I have heard about discounted rate for monthly interest pay for HDFC/ SBI. What is this discounted rate? If I deposit Rs. 2 lakhs in fixed deposit, sat at 9% then annual interest will be Rs. 18,000 and monthly will amount to Rs. 1,500. Will I get Rs. 750 as monthly interest payout or less than this amount?

    #48465

    Sarla Jadhav
    Member

    In case if discounted rate, interest pay happens on monthly basis. Due to this reason the compounding interest will either be equal to or less than the annual interest. With this logic, you should get little less than Rs. 1,500.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...

GET IN TOUCH WITH US

Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email : connect@simplypaisa.com