First, the interest calculation formula is mainly divided into the following four situations.
1. Basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit term × interest rate;
2. Interest rate conversion, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days); Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days) In addition, the interest rate used should be consistent with the deposit term;
3. Regarding the starting point of the interest calculation formula, the starting point of interest calculation for savings deposits is RMB yuan, and interest is not paid for cents below RMB yuan; The interest amount shall be calculated to one decimal place, and the actual payment shall be rounded to one decimal place; Except for current savings, which are settled on an annual basis, the interest can be transferred to the principal, and all other savings deposits, regardless of the deposit term, will be paid off with the principal at the time of withdrawal, excluding compound interest;
4. Calculation of deposit term in interest calculation formula. When calculating the term of deposit, count the heads instead of the tails; Regardless of big month, small month, flat month and leap month, it is calculated as 30 days per month and 360 days per year; The maturity date of all kinds of deposits is calculated on a yearly, monthly and daily basis. If the account opening date is the missing date in the expiration month, the last day of the expiration month will be the expiration date.
Second, interest
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
Third, the classification of bank interest
According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable.
1. Interest receivable refers to the remuneration that the bank obtains from the borrower by lending funds; It is the price that the borrower must pay for using the funds; This is also part of the bank's profits.
2. Interest payable refers to the remuneration paid to depositors by banks for absorbing their deposits; This is the price that banks must pay to absorb deposits, and it is also part of the bank's cost.