Wat does interests per anum means sa bank??pls explain it briefly!!!

[ain]

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Wat does this mean? When the bank explains to their clients that once they will open an ATM from their corresponding bank, specifically an ATM that will earn an interests, will be earning only PER ANUM. Wat does this mean? DO they mean that the interests of our money in our ATM will just be seen PER YEAR? I thought we could earn an interest per month? like on the passbook? Which at least earned 11 pesos per month right? This time, they call it as PER ANUM... i am just quite confused about it... Hmmmm.... To all bank employees out there or to all atm cardholders out there,.. Please share your best answer... Thanks

[Rafalga]

- yup, per year.

- who gave you the idea that it was per month?

- have you read your bank's policies?

[batang_bronse]

next time dont hesitate to ask...
its ur right as a customer and they are paid for that

[arrestmeifyoucan]

per annum mean 1 year....kasagaran karun is 2% per annum ang interest sa regular savings account.

so...2& divide by 12 months is 0.16 % per month ang imong interest earned per month

[AmorsoloX]

per annum mean 1 year....kasagaran karun is 2% per annum ang interest sa regular savings account.

so...2& divide by 12 months is 0.16 % per month ang imong interest earned per month

use this formula

imu kwarta with interest = (imo deposit)x[(1.0016)^(number of months)]

[Hot Ice]

One thing to also note is when the interest is compounded. kung monthly, mao nang formula ni AmorsoloX.

[miyay]

2% p.a. on regular savings..what bank is that? i think most are offering .50% to 1% p.a. now.

[smartkid]

example imo money is 100 pesos multiply it by .02 (2 % interest per annum by most banks), that is 2 pesos interest for one year, kon savings account ila na i credit ang interest earned on a quarterly basis, so 2 pesos/12months, then multiply the result by 3

[e_mer8]

example imo money is 100 pesos multiply it by .02 (2 % interest per annum by most banks), that is 2 pesos interest for one year, kon savings account ila na i credit ang interest earned on a quarterly basis, so 2 pesos/12months, then multiply the result by 3

Ah...ingana diay na?

[pogy_uy]

example imo money is 100 pesos multiply it by .02 (2 % interest per annum by most banks), that is 2 pesos interest for one year, kon savings account ila na i credit ang interest earned on a quarterly basis, so 2 pesos/12months, then multiply the result by 3

minus witholding tax.