Banded: Difference between revisions
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imported>Doug Williamson (Amend link to refer to new Stepped interest page.) |
imported>Doug Williamson (Expand.) |
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''Credit interest calculation''. | |||
'Banded' means the calculation of tiered interest at higher rates on larger balances, where the interest is calculated on the whole balance at the interest rate tier in which the total balance falls. | |||
This is a more favourable basis for the customer receiving credit interest, compared with a stepped basis. | This is a more favourable basis for the customer receiving credit interest, compared with a stepped basis. | ||
Revision as of 14:53, 28 January 2016
Credit interest calculation.
'Banded' means the calculation of tiered interest at higher rates on larger balances, where the interest is calculated on the whole balance at the interest rate tier in which the total balance falls.
This is a more favourable basis for the customer receiving credit interest, compared with a stepped basis.
