Annual interest rate/12=monthly interest rate (note that it is not divided by 10) annual interest rate/360=daily interest rate (note that it is not divided by 365) monthly interest rate/30=daily interest rate Bank is calculating current savings deposits When interest is paid, the interest balance will be settled on the account page one by one, and the interest will be calculated and paid in one lump sum when the depositor liquidates his account. Current savings (passbook) deposits are subject to interest settlement once a year (June 30th of each year is the interest settlement date). When settling interest, the interest above "yuan" can be incorporated into the principal, and the portion below "yuan" can be transferred into the interest balance.

1. Interest is the fee for using currency within a certain period of time, which refers to the remuneration that currency holders (creditors) receive from borrowers (debtors) for lending currency or currency capital. Including interest on deposits, loans and various bonds. Under capitalism, the source of interest is the surplus value created by wage workers. The essence of interest is a special transformation form of surplus value and is a part of profit.

Second, interest (interest), in abstract terms, refers to the value-added amount brought about when monetary funds are injected into and returned to the real economic sector. To put it less abstractly, interest generally refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for the use of borrowed currency or capital. Also called sub-gold, the symmetry of the parent fund (principal). The formula for calculating interest is: Interest = Principal × Interest Rate × Deposit Term (that is, time).

Third, when a lender lends money at interest, it is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer current goods to future goods, so positive interest rates will appear in the free market. Most economies experience inflation, which means that an amount of money will buy fewer goods in the future than today. Therefore, the borrower needs to compensate the lender for the losses during this period

Fourth, interest, as the capital occupation cost of the enterprise, has directly affected the level of economic benefits of the enterprise. In order to reduce costs and improve efficiency, enterprises must do everything possible to reduce the amount of funds occupied, and at the same time conduct cost comparisons of various fund-raising methods during the financing process. If enterprises in the whole society regard saving interest expenses as a common behavior pattern, then the efficiency of economic growth will definitely be improved.

Fifth, under the conditions that the actual income level of Chinese residents continues to increase and the savings ratio is increasing, asset selection behavior has emerged. The increase in financial instruments provides an objective basis for residents’ asset selection behavior, and interest Income is the main incentive for residents’ asset selection behavior. The residential sector attaches great importance to interest income and spontaneously generates asset selection behavior, which has an impact that cannot be ignored, both on macroeconomic regulation and on the reconstruction of micro-foundations. Judging from the current situation in China, the high savings rate has become a major feature of the Chinese economy, which provides a solid financial foundation for rapid economic growth, and the various asset selection behaviors made by residents under the inducement of interest income have also contributed to the realization of various Macroeconomic control has made a contribution.