Jul 4 2018, 12:59 AM
QUOTE(LostAndFound @ Jul 3 2018, 10:33 PM)
That's not true as I have deposits since 2015 that get exactly 4% per annum. Even though deposited mid December it only gets the full 4% in the following January (hence no interest for those 2 week's end December). No way it's getting daily interest.
I remember saw it in the net some years back,…I think it is something like this…..If the dividend announced for year 2017 is 4%
1) Your last year’s deposit date, prorated by the number of months multiply by this 4%
2) Multiply balance in your a/c as at 1 January 2017 by 4%
Add 1 & 2, you will get the dividend sum for that year.
Caveat emptor….
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