Monthly Discounted Interest Calculator

Term deposit interests are payable on the quarterly basis only but in order to satisfy customers monthly requirements, interests are paid on monthly basis by discounting monthly interest, it is called as monthly deposited interest. This online monthly discounted interest rate calculator fetches you the monthly discounted interest based on the rate of interest in the fraction of seconds.

Result :

Example:

Calculate the monthly discounted interest for the rate of interest as 5%.

Solution:

Monthly Discounted Interest = (5 /4) / [( 1+ (5 / 1200) ) 2 + (1 + (5 / 1200)) + 1]
= 0.41.