What are the rules for charging interest on withdrawals ?

What are the rules for charging interest on withdrawals ?
by

1 Answer

Answer :

Rules for charging interest on withdrawals: 1) If withdrawals are made at the beginning of the month , the monthly withdrawal interest rate is 8.5 months. 2) If you withdraw in the middle of the month , the monthly withdrawal interest rate is 6 months. 3) Withdrawal at the end of the month , monthly withdrawal - interest rate of 5.5 months. 4) If you withdraw after 3 months, the rate of withdrawal interest is 2.5 5) If you withdraw after every one and a half months, you have to charge 1.5 months interest. Only if the above rules are known, it will be possible to determine the interest of Utol and it will be accurate         
by

Related questions

Which is the state owned commercial bank ?

Description : Which is the state owned commercial bank ?

Last Answer : BDBL is a state-owned commercial bank.

In what year was the bill for establishment of small and cottage industries corporation introduced ?

Description : In what year was the bill for establishment of small and cottage industries corporation introduced ?

Last Answer : The bill for establishment of small and cottage industries corporation was introduced in 1956.

How many types of assistance according to nature ?

Description : How many types of assistance according to nature ?

Last Answer : 3 types of assistance by nature .

How many regional centers of BITAC ?

Description : How many regional centers of BITAC ?

Last Answer : 4 regional centers of BITAC.

Since when has Basic Bank started banking activities ?

Description : Since when has Basic Bank started banking activities ?

Last Answer : Basic Bank started its banking activities on 31st January, 1989 .

How many state owned commercial banks in Bangladesh ?

Description : How many state owned commercial banks in Bangladesh ?

Last Answer : Bangladesh State-owned Commercial Bank 4.

Which commercial bank is providing services as development partner of the government ?

Description : Which commercial bank is providing services as development partner of the government ?

Last Answer : Sonali Bank Commercial Bank is providing services as development partner of the government.

What is the short form of Bangladesh Development Bank Limited ?

Description : What is the short form of Bangladesh Development Bank Limited ?

Last Answer : BDBL stands for Bangladesh Development Bank Limited.

How many founding anniversaries were celebrated in 2012 ?

Description : How many founding anniversaries were celebrated in 2012 ?

Last Answer : In 2012, the 55th founding anniversary of BSIC was celebrated.

What is BSIC ?

Description : What is BSIC ?

Last Answer : Bangladesh Small and Cottage Industries Corporation.

What can be an inspiration for an entrepreneur ?

Description : What can be an inspiration for an entrepreneur ?

Last Answer : Industrial policy is an inspiration for entrepreneurs.

What kind of capital resources help ?

Description : What kind of capital resources help ?

Last Answer : Capital resources support support.

What is supportive support ?

Description : What is supportive support ?

Last Answer : Resource support capital.

What is involved with each investment ?

Description : What is involved with each investment ?

Last Answer : Opportunity costs are involved with every investment.

Why Debt Reserves ?

Description : Why Debt Reserves ?

Last Answer : Credit for all reserves except rebate of creditors and payable bills in Rewamile. That means the debit of the creditor or payable bill. Now the question is why ? Debtor or payable account or payable bill ... but if there is a possibility of income, it cannot be recorded as income.) Thank you!

Which type of business organization is the largest in all countries of the world ?

Description : Which type of business organization is the largest in all countries of the world ?

Last Answer : Answer : The number of sole proprietorship organizations is highest in all countries of the world.

Why is a sole proprietorship called the business world ? Explain ?

Description : Why is a sole proprietorship called the business world ? Explain ?

Last Answer : Answer : The sole proprietorship organization is called the patron saint of the business world. In ancient times the system of production was family oriented. The family members used to produce in ... the oldest business organization in the world, it is called the mentor of the business world.

Why there is no separate entity in monopoly business ? Explain ?

Description : Why there is no separate entity in monopoly business ? Explain ?

Last Answer : Answer : The business which is owned by only one person and the owner is called the sole proprietorship business. A single owner can easily start such a business anywhere with little capital. No ... so great. That is why such a business is called an organization of simple and straightforward nature.

What is bank overdraft ?

Description : What is bank overdraft ?

Last Answer : If the bank gives the owner of the current account a chance to withdraw the excess money from his deposit, he is called an overdraft. In this case the opportunity to withdraw money up to a certain limit is provided.

What is Accounting Science ?

Description : What is Accounting Science ?

Last Answer : Different people have defined accounting in different ways. Simply put , accounting is a science in which an individual or organization records financial transactions that are measurable in ... process of publishing financial results by transacting , classifying , and summarizing transactions.

Mark the correct statement: a) A withdrawal in a PPF account can be refunded in not more than 36 monthly installments: b) Interest on withdrawal taken from a PPF account is one percent above the rate of interest admissible on PPF subscription c) Second withdrawal can be taken after refund of 1st withdrawal with interest thereon d) The amount of withdrawals in a PPF Account is not repayable

Description : Mark the correct statement: a) A withdrawal in a PPF account can be refunded in not more than 36 monthly installments: b) Interest on withdrawal taken from a PPF account is one percent above ... 1st withdrawal with interest thereon d) The amount of withdrawals in a PPF Account is not repayable

Last Answer : d) The amount of withdrawals in a PPF Account is not repayable

.An increases in investment is most likely to be caused by (a) Lower interest rates (b) Expectations of lower national incomes © A decrease in the marginal propensity to consume (d) An increase in withdrawals.

Description : .An increases in investment is most likely to be caused by (a) Lower interest rates (b) Expectations of lower national incomes © A decrease in the marginal propensity to consume (d) An increase in withdrawals.

Last Answer : (a) Lower interest rates

An increase in investment is caused by (a) Lower interest rates (b) Expectations of lower national income © A decrease in the marginal propensity to consume (d) An increase in withdrawals

Description : An increase in investment is caused by (a) Lower interest rates (b) Expectations of lower national income © A decrease in the marginal propensity to consume (d) An increase in withdrawals

Last Answer : (a) Lower interest rates

Why does the body go through withdrawals when going onto a clean food diet?

Description : Why does the body go through withdrawals when going onto a clean food diet?

Last Answer : Does it? If you stop eating ramen and frozen pizza and switch to fresh veggies, fruits, lentils, grains and beans, why would you have withdrawal symptoms? Such as? Sweats? Shaking? Anxiety? Restlessness? Nausea?

Medication withdrawals?

Description : Medication withdrawals?

Last Answer : Hi, @rory; Titrating yourself off of two long-term medications simultaneously – especially without the guidance of a physician – is potentially dangerous. I strongly recommend that you contact your prescribing physicians regarding the care and treatment options for your conditions.

Can I now make withdrawals/deposits to my JP Morgan Chase account at WaMu locations?

Description : Can I now make withdrawals/deposits to my JP Morgan Chase account at WaMu locations?

Last Answer : Andrew, I’m sorry. I don’t know. Why not ask Chase ?

What is the relationship between withdrawals and injections?

Description : What is the relationship between withdrawals and injections?

Last Answer : Feel Free to Answer

72(t) Calculator: Early withdrawals from retirement accounts?

Description : 72(t) Calculator: Early withdrawals from retirement accounts?

Last Answer : 72(t) Calculator: Early withdrawals from retirement accountsThe Internal Revenue Code section 72(t) and 72(q) allows forpenalty free early withdrawals from retirement accounts. Thesesections ... that yourfinancial institution may or may not support all the methodsdisplayed via this calculator.

Is there a maximum number of withdrawals I can make from my savings account each month?

Description : Is there a maximum number of withdrawals I can make from my savings account each month?

Last Answer : Your bank or credit union will not have a limit on the number of withdrawals you can make, but they may have a limit on the number of withdrawals or amount of money you can withdraw within a short ... ). In addition, they may charge a fee once you pass a certain number of withdrawals in a month.

The Benefits And Drawbacks Of 401K Withdrawals?

Description : The Benefits And Drawbacks Of 401K Withdrawals?

Last Answer : Many families and individuals rely on 401K plans for financial security after retirement. They provide an easily manageable way to accumulate savings over the course of several decades. There are also a ... will save money. They also could take some time and have different benefits and drawbacks.

What are some factors that may impact the age at which withdrawals can be made from an IRA account?

Description : What are some factors that may impact the age at which withdrawals can be made from an IRA account?

Last Answer : Nothing changes the age at which withdrawals can be made from an IRA account. While funds can be taken out at any time, a steep penalty is assessed if funds are taken out early.

What are IRA withdrawals, and how do I perform one?

Description : What are IRA withdrawals, and how do I perform one?

Last Answer : All withdrawals from a traditional IRA before age 59 1/2 are considered early withdrawals. If you take an early withdrawal from your traditional IRA, then in addition to any regular federal income or state income tax due on the withdrawal, you also need to pay an additional 10% tax penalty.

The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in _________ A. One month B. Two month C. Three month D. All of the Above E. None of the Above

Description : The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in _________ A. One month B. Two month C. Three month D. All of the Above E. None of the Above

Last Answer : A. One month Explanation: The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month for BSBDA small accounts.

present the Counter Assistant is authorized to receive deposits and allow withdrawals up to Rs.--------------/- in savings accounts only under his own power without showing the documents to the Ledger Assistant and the Supervisor. a) 5000 b) 2000 c) 4000 d) None of these

Description : present the Counter Assistant is authorized to receive deposits and allow withdrawals up to Rs.--------------/- in savings accounts only under his own power without showing the documents to the Ledger Assistant and the Supervisor. a) 5000 b) 2000 c) 4000 d) None of these

Last Answer : a) 5000

Measures to reduce imports will (a) Boost injections into an economy. (b) Reduce injections from an economy. © Boost withdrawals into aneconomy. (d) Reduce withdrawals from an economy.

Description : Measures to reduce imports will (a) Boost injections into an economy. (b) Reduce injections from an economy. © Boost withdrawals into aneconomy. (d) Reduce withdrawals from an economy.

Last Answer : (d) Reduce withdrawals from an economy.

Why are rules and regulations required for the ‘protection of consumers’ interest’ in the marketplace ? -SST 10th

Description : Why are rules and regulations required for the ‘protection of consumers’ interest’ in the marketplace ? -SST 10th

Last Answer : Rules and regulations required for the protection of consumers' interest' in the marketplace because : (a) Individual consumers when exploited at the market, find themselves in a weak position. Sellers ... sold. (b) Unfair trade practices like black marketing, adulteration etc. need to be checked.

According to _________, Any person can also search and inspect the records maintained by the Registry on payment of fees. A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Both (A) and (B) D. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 E. None of these

Description : According to _________, Any person can also search and inspect the records maintained by the Registry on payment of fees. A. Securitisation and Reconstruction of Financial Assets and Enforcement of ... Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 E. None of these

Last Answer : D. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 Explanation: Any person can also search and inspect the records maintained by the ... are planning to purchase, is free of any loan/security interest created by a lender.

As a PMP, you will be required to comply with the PMP Code of Professional Conduct. This code refers to all of the following except which oneD. Complying with the rules and standards of foreign countries? A. Reporting conflicts of interest B. Reporting experience and PMP status truthfully C. Complying with the stakeholder requirements

Description : As a PMP, you will be required to comply with the PMP Code of Professional  Conduct. This code refers to all of the following except which one?  A. Reporting conflicts of interest ... C. Complying with the stakeholder requirements D. Complying with the rules and standards of foreign countries

Last Answer : C. Complying with the stakeholder requirements

When an account opened in contravention of rules a) The account should be closed b) The deposit made in the account refunded to the depositor without interest c) Both A and B d) None of these

Description : When an account opened in contravention of rules a) The account should be closed b) The deposit made in the account refunded to the depositor without interest c) Both A and B d) None of these

Last Answer : c) Both A and B