Savings Account Interest Calculator in Excel Download (Hindi) | Bank Interest Calculation скачать в хорошем качестве

Savings Account Interest Calculator in Excel Download (Hindi) | Bank Interest Calculation

Savings Account Interest Calculator in Excel Download (Hindi) | Bank Interest Calculation In this video by FinCalC TV we will see making of Bank Savings Account Interest calculator in excel with download option in hindi. Interest in your savings account is calculated on daily basis and is compounded after every 3 months. The annual interest rate is divided by 365 to get one day interest rate which is than used to calculate interest in your savings account. All Excel Calculators Playlist:    • Excel Tutorial   Savings Account Interest Calculator: https://fincalc-blog.in/savings-accou... Download Savings Account Interest Calculator in Excel: https://fincalc-blog.in/savings-accou... JOIN Telegram Group: https://t.me/fincalc_tv_channel CHAPTERS: 00:00 Savings Account Interest Calculator Excel Intro 01:23 Defining Labels in Excel 02:13 Setting Savings Account Data in Excel 03:14 Finding Number of Days 04:39 Interest Amount Calculation Formula in Savings 06:08 Example with Withdrawal 08:49 Example with Credit in Savings Account 11:32 Compounding Example in Savings Account 13:03 Using Savings Calculator on FinCalC Blog 15:25 Savings Account Calculator Excel Conclusion WHAT IS SAVINGS ACCOUNT INTEREST CALCULATOR? Savings Account Interest calculator is a free online calculator that helps you to calculate interest in your Bank’s Savings Account. This will help you to make an estimate about how much interest you can expect from savings account based on your balance, interest rate and number of days you are able to maintain balance in your account. It is important to note that Interest in your savings account is calculated daily on the lowest balance using simple interest. So in case you make a debit (withdraw money) on a particular day, the lowest balance in your bank account will be realized and interest will be calculated on lowest balance on that day. In case of credit (Deposits), the lowest balance will be before the credit was made and hence the new balance after deposits will be considered from next day for interest calculation. HOW TO USE SAVINGS ACCOUNT INTEREST CALCULATOR? You can easily calculate interest in your savings account using above calculator for FREE. Below are the steps you should perform: Provide your current Bank Balance in Balance field Update the Interest rate in your Bank’s savings account – annual interest rate Provide the number of days for which you want to know the estimated interest for mentioned balance, interest rate and number of days Once you provide above details, your calculated interest in savings account will be displayed in Interest Amount field TIPS TO INCREASE SAVINGS ACCOUNT INTEREST? So now you have understood how to calculate interest in your savings account, you would be wondering is there any tips or tricks to maximize interest amount in your savings account? There is one! Thank me later when you implement it in your real life. The tip to maximize interest amount in savings account is to keep the balance for more number of days and withdraw only when it is required. Let’s say you want to withdraw Rs. 1 Lac and need it after 2 weeks, then you should delay the withdrawal process to at least a week or more so that you get interest amount on the money you are supposed to withdraw for those extra days. It looks like it will be small interest money for small amount of withdrawals, but in case you plan to withdraw amounts in lacs, you can delay it for sure until it is required to gain additional interest money for few more days INCOME TAX ON SAVINGS ACCOUNT If your age is below 60, you get tax free interest amount in your savings account up to Rs. 10,000 in a financial year under section 80TTA. Which means you don’t have to pay any tax on interest up to Rs. 10,000 in a financial year. For senior citizens above 60 years of age, the limit is Rs. 50,000 under section 80TTB for which they don’t pay any tax on this interest amount in a financial year. While filing ITR, you should mention savings account interest and claim it under appropriate section based on your age. #SavingsAccount #Interest #Excel #fincalc ============================ LIKE | SHARE | COMMENT | SUBSCRIBE Mujhe Social Media par FOLLOW kare: Facebook :   / fincalctv   Twitter :   / fincalctv   BLOG: https://fincalc-blog.in Telegram: https://t.me/fincalc_tv_channel Instagram:   / fincalc_tv   ============================ MORE VIDEOS: SIP Returns Calculation:    • SIP Returns Calculation Examples - ₹2000 f...   Income Tax Calculator:    • Income Tax Calculation Examples between ₹4...   Loan EMI Calculator:    • Home Loan EMI Calculator Excel with Princi...   Loan EMI Prepayment Calculator:    • Home Loan EMI Prepayment | How to Save Hom...   ============================ DISCLAIMER: Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.