Interest calculation base

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 when the personal loan introduced in the firm, how the rate of interest is calculated?
taking the denometer as the 12 months or 365 days?
How the rate of interest is calculated?
suppose follwing is the situation----
date mentioned on cheque/;--18-sept 2012
date submitted to borrower ---21 sept 2012
cheque is deposited in bank--23 sept 2012
cheque is cleared in bank 25 sept 2012

on which date interest to be required to cal ?
what is the correct way to calculate the int rate working from the legal point?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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19 September 2012 I AM POSTING THE CALCULATOR IT IS CLEAR:

http://allbankingsolutions.com/fdcal.htm

http://www.interestcalculator.co.in/

if u have any query ask eminent expert will assist u..