Stepped and Stepped interest: Difference between pages
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imported>Doug Williamson (Layout.) |
imported>Doug Williamson (Replace 'Stepped' page with this new page, so as to deal separately with Stepped margin.) |
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Calculation of tiered interest at higher rates on larger balances, where the interest is calculated in increments on the balance that falls within that step only. | Calculation of tiered interest at higher rates on larger balances, where the interest is calculated in increments on the balance that falls within that step only. | ||
This is less favourable for the customer receiving credit interest, compared with a banded basis. | |||
== See also == | == See also == | ||
*[[Banded]] | *[[Banded]] | ||
*[[Tiered]] | *[[Tiered]] | ||
*[[Stepped margin]] | *[[Stepped margin]] | ||
Revision as of 18:12, 6 April 2015
Calculation of tiered interest at higher rates on larger balances, where the interest is calculated in increments on the balance that falls within that step only.
This is less favourable for the customer receiving credit interest, compared with a banded basis.
