![]() The number of days which fall in the leap year are divided by 366 and this ratio is then multiplied with the contracted interest rate and Fixed Term Deposit principal, to calculate the interest for that period.ī. If the Deposit Period contains leap day(s) (i.e. Depending on day on which the deposit is booked ('Fixed Term Deposit Start Date') and period for which the deposit is booked ('Term'), the total number of days for which the Fixed Term Deposit is maintained with ADCB ('Deposit Period'), may span across non leap year(s) or leap year(s).ģ. For all Fixed Term Deposit products except traditional term deposits (AED & other foreign currencies), calculation of the interest is done using the 'Actual/Actual' convention (explained below), which assumes the year basis to be 365 days for non-leap year(s) and 366 days for leap year(s).Ģ. ![]() Investment Banking and Financial Market Solutionsġ.
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