Stepped interest: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Replace 'Stepped' page with this new page, so as to deal separately with Stepped margin.) |
imported>Doug Williamson (Expand.) |
||
| Line 1: | Line 1: | ||
''Credit interest calculation''. | |||
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. | ||
Revision as of 14:54, 28 January 2016
Credit interest calculation.
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.
