1. A time savings deposit is a deposit with an agreed term, which is deposited in one lump sum or in installments, and the principal or interest is withdrawn in one or more installments. The longer the term of time deposit, the higher the interest rate.
2. Deposit interest rate: When the deposit expires, the depositor can enjoy the lump-sum deposit and withdrawal interest rate with the admission notice of non-compulsory education or the student status certificate issued by the school where the depositor is receiving non-compulsory education. In case of interest rate adjustment during the deposit period, interest shall be calculated and paid according to the corresponding savings deposit interest rate announced on the account opening date, and interest shall not be calculated by installments.
3. Interest is the use fee of money in a certain period of time, which refers to the reward that the money holder gets from the borrower 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.
Interest calculation formula
1. Three interest rates can be converted, and the conversion formula is: annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
Two, the interest calculation formula is mainly divided into the following four situations:
1. First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit term × interest rate;
2. The second is the conversion of interest rate, 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 use of interest rates should be consistent with the deposit term;
3. Third, the starting point of the interest calculation formula,
(1) The interest-bearing starting point for savings deposits is RMB yuan, and interest-bearing is not allowed for cents below RMB yuan;
(2) The interest amount shall be calculated to the decimal point and rounded to the decimal point when actually paid;
(3) All savings deposits, regardless of the deposit period, are paid with the principal at the time of withdrawal, excluding compound interest, except that the current savings are settled annually and the interest can be transferred to the principal;
4. Fourth, the calculation of the deposit period in the interest calculation formula,
(1) Calculate the term of deposit, with the beginning rather than the end;
(2) Whether it is a big month, a small month, a flat month or a leap month, it is calculated as 30 days per month and 360 days throughout the year. 3. The maturity date of all kinds of deposits shall be calculated annually and monthly. If the account opening date is the missing date of the due month, the last day of the due month is the due date.