Thread: Basic Question, When is ING/EMMIGRANTS % compounded
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Old 05-14-2005, 06:00 PM
terry1156 terry1156 is offline
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Default Re: Basic Question, When is ING/EMMIGRANTS % compounded
The issue that many people seem to accidentally get confused about is the compounded "daily" vs "monthly" When these terms are mentioned, it doesn't mean your savings are multiplied by the % (3.00%) for those time periods - it's just how the banks do the numbers to come out for the rate for the YEAR. So the 3% is your yearly rate even if it is compounded daily or monthly.
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