The interest rate of savings deposits shall be stipulated by the state and promulgated by the People's Bank of China. Interest rate, also known as interest rate, is the ratio of interest to principal in a certain date, which is generally divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth and the daily interest rate is expressed as one thousandth. If the annual interest rate of 9% is written as 9%, that is to say, every thousand yuan deposit will get the regular annual interest rate in 90 yuan, and the monthly interest rate of 6% is written as 6‰, that is, the monthly interest rate of every thousand yuan deposit is written as 6 yuan, and the daily interest rate of 1% 5 cents is written as 0. 15‰, that is, the daily interest rate of every thousand yuan deposit is 1.5 cents. Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
The interest calculation formula is mainly divided into the following four situations:
First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate;
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;
III. Starting point of interest calculation formula, 1, starting point of interest of savings deposit is RMB, and no interest is paid for points below RMB; 2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid; 3. Except for current savings, which are settled on an annual basis and interest can be converted into principal, all other savings deposits, regardless of the duration, are paid with the principal at the time of withdrawal, excluding compound interest;
Fourth, the calculation of the deposit period is in the interest calculation formula, 1, and the calculation of the deposit period adopts the method of not counting the first number and the last number; 2. Every month is counted as 30 days, regardless of big month, small month, flat month and leap month, and every year is counted as 360 days. 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.