To put it simply, the gist is this: every month the bank adds the accrued interest to the deposit. Thus, the size of the deposit body, i.e. the calculation base, increases.
After a month, the bank charges interest on a malaysian business email list larger amount, i.e. adds "interest on interest". The more often the charges occur, the faster your capital will grow by the end of the deposit term.
Let's imagine a young family - Roman and Marina. They decide to put aside some of the money given at the wedding and create capital with an eye on the future of their child. At the moment, they have 500 thousand rubles. The family asks themselves: how much can this amount be increased in twenty years, simply by opening a bank deposit?Enlarge imageCompound interest will bring your dream closer to reality
Compound interest will bring your dream closer to reality
Roman and Marina devoted the entire evening to studying the offers of various credit institutions. They came to the conclusion that the most profitable and safe way to increase capital without additional investments would be a deposit with interest capitalization.
However, there are many such offers on the Internet. The newlyweds need to decide which conditions best satisfy their desires.