Savings Interest Calculator

1.	Interest on saving accounts are paid on simple interest basis on Monthly Products System.
2.	Monthly products are worked out on the basis of Minimum balances between tenth and end date of the month.
3.	Interest on Savings accounts are at prescribed rates of RBI and are paid half yearly in June and December.
	Please enter 6 minimum monthly balances to find out the interest payable at current interest rate.

Minimum monthly balance #1 Minimum monthly balance #2 Minimum monthly balance #3 Minimum monthly balance #4 Minimum monthly balance #5 Minimum monthly balance #6 Interest Amount is

A Sample Case Rate of interest = 3.5% #1 12345 Monthly products #2 23456 Monthly products #3 34567 Monthly products #4 45678 Monthly products #5 56789 Monthly products #6 12345 Monthly products 185180         Total Interest payable for half year = (185180 / 1200) * 3.5 = Rs.540