Annual Interest in Bank?

[Chelsea]

Hi,

Just wondered, what is the actual interest in the DNForum Bank? It states ones there are 10% annual interest and on the next page states 10% daily interest???

 

[BobBob is verified member.]

10% annual interest is supposed to be credited at a daily rate. If you do not have enough F$ (around 4000), you will not see any interest accumluation because the math works out to be less than 1.

-Bob

 

[DNWizardX9]

10 percent of 1000 is $100 daily DNF tho? Why does it turn out to be 1

 

[Anthony Ng]

The bank interest rate has always been 10% ANNUALLY from day 1 (okay, almost day 1). And actually, discrepancy in bank information on different pages has finally been fixed: they all show "Annual interest : 10%" now. Thanks.

 

[DNWizardX9]

why does bob say its 10 percent daily then ;P

 

[GiantDomains]

Jeff:

It's credited daily, but it is 10% apr.

 

[DeCal]

I have around 30,000 in the bank and i've not been getting daily interest for a week or so now.

 

[GiantDomains]

not again ... i will check it out

 

[theparrot]

Interest? Cool.... it sounds like what it is from the above is 10% APR (annual perentage rate) componded daily so you would actually get a bit more then 10F$ after one year on 100F$. Now to figure out what these forum dollars are and what they are good for.

 

[impactadmin]

You can check if the interest is credited into your bank account whenever you access the bank page.And the bank will credit your account on daily basis(i.e. every 24 hours).DeCal,your bank interest had been credited into your account 2 days before.Please check it again.Thanks.