If a transaction was done, via nedbank at 3:30pm to FNB on a Saturday, when will the money reflect into my account.

MightyQuin

Honorary Master
Joined
Oct 6, 2010
Messages
12,876
#21
What do you think compound interest means? Your interest compounds daily - if your bond installment clears in your home loan account on the 1st instead of the 2nd, you save money.



Well, since each installment I pay eats about R5k into the capital of my loan, if my installment clears a day earlier, I save around (500/365)= R1.36. A few rands...
Like that will ever reflect on your home loan statement....
 

Steamy Tom

Expert Member
Joined
Jan 23, 2019
Messages
1,517
#23
i promise you they calculate it daily, the interest calculation amount appears on your statement, go look at a month with 30 vs 31 days or like feb and see for yourself.
 
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