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

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  • November 15, 2014 at 5:38 am #48464
    samkapoor77
    Keymaster

    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?

    November 17, 2014 at 10:41 am #48465
    samkapoor77
    Keymaster

    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.

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