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Thread: Interest

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    Interest

    I've had an absa account for around 2 years now and would like to calculate how much interest the account has accumalated over this time. It does not have to be exact but just an estimate. Any suggestions how I could do this without having to go to my branch and getting a print out?

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    Well give me the amoutn you invested and the amount you had then and I will calculate it for you
    ---There is no traffic at the extra mile---

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    Well over the two years i had the account the amount varied. I'd say for about 18 months it was around 50k and the other six months around 120k

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    You have to calculate the interest per day and then add it up. For this you need to know what interest rate applied at the time and for how many days. Also what amount was in the account and when interest was capitalised.

    If you are really serious about calculating the interest you need to get a specified statement of the account. Maybe you should tell the bank that you do not trust their system and get them to recalculate the interest for you.
    Excellence is not a skill; its an attitude...

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    Ok, just give me the current latest value and I'll tell you what you've maid in percentage, I'll call calculate it per day, that's a simple calculation to fo on a financial calculator
    ---There is no traffic at the extra mile---

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    R50k

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    Quote Originally Posted by Nickolai Naydenov View Post
    Ok, just give me the current latest value and I'll tell you what you've maid in percentage, I'll call calculate it per day, that's a simple calculation to fo on a financial calculator
    Thanks all for the assistance. The current latest value is R50 000

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    Abdi, that doesn't help me, I need to know when you put the money how much were they, after how long time did you withdraw and how much, what is the total period from start till now?
    ---There is no traffic at the extra mile---

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