PRINCIPAL RATE OF INTEREST DAYS/YEARS P*R*DAY_COUNT/36500.00 INTEREST ROUND(INTEREST) IF GREATER THAN 0.50 PAISA(INR) ROUND THAT AMOUNT TO 01.00 INTEREST FORMULA TO GET ONE TIME INTEREST AFTER OPENING A FIXED DEPOSIT: R = RATE OF INTEREST PER YEAR WE USED TO USE (N = NUMBER OF YEARS): P * ( POWER( ( 1 + (R/100) ), N ) - 1 ) P * ( POWER( ( 1 + (R/100) ), 1 ) - 1 ) WHEN USING COMPOUND INTEREST FOR ONE YEAR. IF I NEED TO GET INTEREST QUARTERLY R NEEDS TO BE DIVIDED BY 4 SINCE 4*3 = 12 MONTHS FOR QUARTERLY INTEREST: P * ( POWER( ( 1 + (R/400) ), 1 ) - 1 ) IF I NEED TO GET INTEREST FOR EACH MONTH INSTEAD OF USING 03 MONTHS POWER( ..., 1) NEEDS TO BE REPLACED WITH: POWER( ..., 1/3) SINCE EACH QUARTER HAVING 03 MONTHS FOR MONTHLY INTEREST: P * ( POWER( ( 1 + (R/400) ), 1/3 ) - 1 ) 1000.00 3.0% 07 DAYS 1000.00*7*3.0/36500.00 0.5753424657 AFTER 07 DAYS 1.0 2608.00 3.0% 2608.00*7*3.0/36500.00 1 .50 04931506 AFTER 07 DAYS 2.0 71325.00 4.5% 46 DAYS 71325.00*46*4.5/36500.00 404 .50 06849315 AFTER 46 DAYS 405.00 1152.00 6.8% 01 YEAR 00 MONTH 06.00 EACH MONTH FOR 01 YEAR 06.00 P=1152.00 R=6.8 MONTHLY INTEREST = P * ( POWER( ( 1+ (R/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1152.00 * ( POWER( ( 1+ (6.8/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1152.00 * ( POWER( ( 1+ ( 0.017 ) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1152.00 * ( POWER( 1.017, 1/3 ) - 1 ) MONTHLY INTEREST = 1152.00 * ( POWER( 1.017, 0.333333 ) - 1 ) MONTHLY INTEREST = 1152.00 * ( 1.0056348497816708640457462414792 - 1 ) MONTHLY INTEREST = 1152.00 * ( 0.0056348497816708640457462414792 ) MONTHLY INTEREST = 6.4913469484848353806996701840384 MONTHLY INTEREST = 6.49 MONTHLY INTEREST = ROUND(6.49) MONTHLY INTEREST = 6.00 1153.00 6.8% 07.00 EACH MONTH FOR 01 YEAR 07.00 P=1153.00 R=6.8 MONTHLY INTEREST = P * ( POWER( ( 1+ (R/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1153.00 * ( POWER( ( 1+ (6.8/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1153.00 * ( POWER( ( 1+ ( 0.017 ) ), 1/3 ) - 1 ) MONTHLY INTEREST = 1153.00 * ( POWER( 1.017, 1/3 ) - 1 ) MONTHLY INTEREST = 1153.00 * ( POWER( 1.017, 0.333333 ) - 1 ) MONTHLY INTEREST = 1153.00 * ( 1.0056348497816708640457462414792 - 1 ) MONTHLY INTEREST = 1153.00 * ( 0.0056348497816708640457462414792 ) MONTHLY INTEREST = 6.4969817982665062447454164255176 MONTHLY INTEREST = 6.50 MONTHLY INTEREST = ROUND(6.50) MONTHLY INTEREST = 7.00

Which one of the following is best to open fixed deposit at SBI? a) 31 days OR (Exampe first month house rent/current bill/internet_postpaid/loan payment/SUKANYA_SAMRITHI_POST_OFFICE) b) 45 days OR (second month house rent/current bill/internet_postpaid/loan payment/SUKANYA_SAMRITHI_POST_OFFICE) c) 46 days OR (third month house rent/current bill/internet_postpaid/loan payment/SUKANYA_SAMRITHI_POST_OFFICE) d) 1 year 0 days(LIC/MIS/NSC/LOAN/VEHICLE_INSURANCE/GIFTS/MEDICINES/HOME_ITEMS/SUKANYA_SAMRITHI_POST_OFFICE) PRE-CLOSURE OF ANY FIXED DEPOSIT USED TO DEDUCT SOME AMOUNT. Example principal SBI Fixed deposit rate on Sun 01-Oct-2023 IST Auto or manual renew && Interest INR Interest per year Interest for 5 years Interest for 10 years 71288.00 3.0% <= 45 days R=3.0% P=71288.00 DAYS=31 INT = P*R*DAYS/36500.00 INT = 71288.00*3.0*31/36500.00 INT = 181.64 ROUND(INT) = 182.00 HENCE USE FOLLOWING PRINCIPAL: 70447.00 INT=70447.00*31*3.0/36500 = 179.495 = 179.50 = 180 OR 70840.00 INT=70840.00*31*3.0/36500 = 180.496 = 180.50 = 181 2002.00 = (365/31)*182.00 = 11.77 * 182.00 = 11 * 182.00 10556.00 = ( (5*365) + 1 )/31 )*182.00 = (1826/31)*182.00 = 58.90 * 182.00 = 58 * 182 21294.00 = ( (10*365) + 2 )/31 )*182.00 = ( 3652/31 )*182.00 = 117.80 * 182.00 = 117 * 182 71288.00 3.0% <= 45 days 45 days/264.00 Better use 71242.00 * 45 * 3.0 / 36500.00 = 263.497 = 263.50 = 264.00 2112.00 =(365/45)*264.00 = 8.11 * 264.00 = 8 * 264.00 10560.00 =( ( (365*5) + 1 ) /45 ) *264.00 = ( 1826 / 45 ) * 264.00 = 40.57 * 264.00 = 40 * 264.00 21384.00 =( ( (365*10) + 2 ) /45 ) *264.00 =( 3652 /45 ) * 264.00 = 81.15 * 264.00 = 81 * 264.00 71288.00 4.5% < 01 year 46 days/404.00 Better use 71324.00*4.5*46/36500 = 404.495 = 404.50 = 405.00 2828.00 = (365/46)*404.00 = 7.93 * 406.00 = 7 * 406.00 15756.00 =( ( (365*5) + 1 ) /46 ) *404.00 = ( 1826 / 46 ) * 404.00 = 39.67 * 404.00 = 39 * 404.00 31916.00 =( ( (365*10) + 2 ) /46 ) *404.00 = ( 3652 / 46 ) * 404.00 = 79.39 * 404.00 = 79 * 404.00 71253.00 6.8% >= 01 year 0 month P=71253.00 R=6.8 MONTHLY INTEREST = P * ( POWER( ( 1+ (R/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 71253 * ( POWER( ( 1+ (6.8/400) ), 1/3 ) - 1 ) MONTHLY INTEREST = 71253 * ( POWER( ( 1+ ( 0.017 ) ), 1/3 ) - 1 ) MONTHLY INTEREST = 71253 * ( POWER( 1.017, 1/3 ) - 1 ) MONTHLY INTEREST = 71253 * ( POWER( 1.017, 0.333333 ) - 1 ) MONTHLY INTEREST = 71253 * ( 1.0056348497816708640457462414792 - 1 ) MONTHLY INTEREST = 71253 * ( 0.0056348497816708640457462414792 ) MONTHLY INTEREST = 401.49995149339407585155694411744 MONTHLY INTEREST = 402.00 4824.00 = 12 * 402.00 24120.00 = 12 * 5 * 402.00 48240.00 = 12 * 10 * 402.00

SBI changed their fixed deposit interest from 3.0% to 6.8% DURNIG Aug-2023 OR Jul-2023 Previously they changed their fixed deposit interest from 2.9% to 3.0% DURNIG May-2023 OR Jun-2023 We can use following steps at SBI to open fixed deposit/ETDR. Interest for ETDR/FD is 3.0% DURING 2023 and 2024. 6.8% interest at SBI MAY/MAY NOT CHANGE EACH YEAR. PRINCIPAL Start date(Eg) End date No of days R Interest Round(Int) INTEREST+PRINCIPAL 1000.00 Sun 29-Jan-2023 Sun 05-Feb-2023 7 3.0 0.5753 1.00 1001.00 2608.00 Sun 29-Jan-2023 Sun 05-Feb-2023 7 3.0 1.5005 2.00 2610.00 2608.00 Sun 29-Jan-2023 Sun 05-Feb-2023 7 3.0 1.5005 2.00 2610.00 1000.00 Sun 29-Jan-2023 Mon 06-Feb-2023 8 3.0 0.6600 1.00 1001.00 2274.00 Sun 29-Jan-2023 Mon 06-Feb-2023 8 3.0 1.5000 2.00 2276.00 1000.00 Sun 29-Jan-2023 Tue 07-Feb-2023 9 3.0 0.7400 1.00 1001.00 2022.00 Sun 29-Jan-2023 Tue 07-Feb-2023 9 3.0 1.5000 2.00 2024.00 PRINCIPAL R DAYS INT=P*R*days/36500 6534*4.5*54/36500 ROUND(INT) P+ROUND(INT) Assume that I am having a principal of 137803.00 INR IF I DEPOSIT ABOVE PRINCIPAL FOR ONE YEAR ZERO MONTHS ZERO DAYS TO GET FIXED DEPOSIT INTEREST MONTH WISE, I USED TO GET 777.00 INR FOR EACH MONTH (6.8% PER ANNUM ON TUE 12-SEP-2023 IST). INSTEAD OF PROCEEDING THIS WAY LET ME PROCEED OTHER WAY TO GET MORE INTEREST USING FOLLOWING KIND OF FIXED DEPOSIT AT SBI. 137803.00 / 30.00 = 4593.43 30.00 REFERRING HERE 30 DAYS. AFTER CALCULATING RELATED FIXED DEPOSIT(FD) INTEREST FOR EACH MONTH AND DEPOSITING THIS FD FOR 01 YEAR 0 MONTHS 0 DAYS. I FOUND FOLLOWING INTEREST FOR RELATED PRINCIPALS: PRINCIPAL INTEREST PER MONTH RATE OF INTEREST NUMBER OF YEAR/MONTH/DAY 4593.00 26.00 6.8% 01 YEAR 00 MONTH 00 DAY 4553.00 26.00 01 YEAR 00 MONTH 00 DAY 4543.00 26.00 01 YEAR 00 MONTH 00 DAY 4533.00 26.00 01 YEAR 00 MONTH 00 DAY 4528.00 26.00 01 YEAR 00 MONTH 00 DAY 4526.00 26.00 01 YEAR 00 MONTH 00 DAY 4525.00 26.00 01 YEAR 00 MONTH 00 DAY 4524.00 25.00 01 YEAR 00 MONTH 00 DAY 4523.00 25.00 01 YEAR 00 MONTH 00 DAY 4493.00 25.00 01 YEAR 00 MONTH 00 DAY Hence open one fixed deposit daily for 30 days. Total interest per month = 26 * 30 = 780.00 WHICH IS GREATER THAN 777.00 INR After creating fixed deposit submit form 15G at online. I have renamed the fixed deposit name using: RamanujanMathITR2223BegTax001 RamanujanMathITR2223BegTax002... REASON: ITR 2022-2023 FROM INCOME TAX REFUND FROM INDIAN TAX I AM WAITING FOR 108710.00 INR FROM Thu 13-Apr-2023 IST TO TILL Sep-2023/Oct-2023/Nov-2023/Dec-2023 IN FUTURE I WILL UPDATE THE WORDS TILL Sep-2023/Oct-2023/Nov-2023/Dec-2023 TO RELATED DATE ONCE OBTAINING MY ITR REFUND FOR THE YEAR 2022-2023. SBI Bank Holidays 2023(ALL SUNDAYS HOLIDAY) => 53 Sundays during 2023 SBI BANK HAVING 95 HOLIDAYS DURING 2023. HENCE SBI GOVERNMENT WORKER WORKING FOR 270 DAYS APPROXIMATELY 09 MONTHS OF WORKING DAYS. AND 03 MONTHS OF HOLIDAYS. HDFC (PRIVATE) BANK HAVING 23 HOLIDAYS DURING 2023 01. BANK HOLIDAY ddd 13-Jan-yyyy SECOND SATURDAY 02. Republic Day ddd 26-Jan-yyyy 03. BANK HOLIDAY Sat 27-Jan-2024 FOURTH SATURDAY 05. BANK HOLIDAY Sat 10-Feb-2024 SECOND SATURDAY 06. BANK HOLIDAY Sat 24-Feb-2024 FOURTH SATURDAY 07. Holi Fri 08-Mar-2024 08. BANK HOLIDAY Sat 09-Mar-2024 SECOND SATURDAY 09. BANK HOLIDAY Sat 23-Mar-2024 FOURTH SATURDAY 10. Ram Navami Sat 30-Mar-2024 12. Annual Closing of Bank Accounts NEVER CLOSE YOUR ACCOUNT DURING Apr-YYYY REASON: INCOME TAX REFUND USED TO FAIL. CLOSE YOUR ACCOUNT ONLY AFTER RECEIVING REFUND FROM ANY REFUND PROVIDERS: a. BSNL CLOSED NETWORK REFUND b. SETC CANCELLED TICKET REFUND. c. INCOME TAX REFUND/... Sat 01-Apr-2023 12. Mahavir Jayanti Tue 04-Apr-2023 13. Good Friday Fri 07-Apr-2023 24. BANK HOLIDAY Sat 13-Apr-2024 SECOND SATURDAY 15. BANK HOLIDAY Sat 27-Apr-2024 FOURTH SATURDAY 16. Id-ul-Fitr Sat 22-Apr-2023 17. Buddha Purnima Fri 05-May-2023 18. BANK HOLIDAY Sat 11-May-2024 SECOND SATURDAY 19. BANK HOLIDAY Sat 25-May-2024 FOURTH SATURDAY 20. BANK HOLIDAY Sat 08-Jun-2024 SECOND SATURDAY 21. BANK HOLIDAY Sat 22-Jun-2024 FOURTH SATURDAY 22. Bakrid / Id-ul-Zuha Thu 29-Jun-2023 23. BANK HOLIDAY Sat 08-Jul-2023 SECOND SATURDAY 24. BANK HOLIDAY Sat 22-Jul-2023 FOURTH SATURDAY 25. Muharram Sat 29-Jul-2023 26. BANK HOLIDAY Sat 12-Aug-2023 SECOND SATURDAY 27. Independence Day Tue 15-Aug-2023 28. BANK HOLIDAY Sat 26-Aug-2023 FOURTH SATURDAY 29. Janmashtami Vaishnva 07-Sep-2023 30. BANK HOLIDAY Sat 09-Sep-2023 SECOND SATURDAY 31. BANK HOLIDAY Sat 23-Sep-2023 FOURTH SATURDAY 32. Milad-un-Nabi or Id-e-Milad (Birthday of Prophet Mohammad) Thu 28-Sep-2023 33. Mahatma Gandhi's Birthday Mon 02-Oct-2023 34. BANK HOLIDAY Sat 14-Oct-2023 SECOND SATURDAY 35. Dussehra Tue 24-Oct-2023 36. BANK HOLIDAY Sat 28-Oct-2023 FOURTH SATURDAY 37. BANK HOLIDAY Sat 11-Nov-2023 SECOND SATURDAY 37+53. Diwali Sun 12-Nov-2023 91. BANK HOLIDAY Sat 25-Nov-2023 FOURTH SATURDAY 92. Guru Nanak Jayanti Mon 27-Nov-2023 93. BANK HOLIDAY Sat 09-Dec-2023 SECOND SATURDAY 94. BANK HOLIDAY Tue 06-Feb-2023 FOURTH SATURDAY 95. Christmas Day Thu 08-Feb-2023

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