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January 22, 2022

How does LiteFinance's Interest Credit work? How to calculate the APR?

With LiteFinance, you can earn Interest Credit as your extra profit every day.

How does LiteFinance’s Interest Credit work?

APR is the percentage credited to the remaining funds (annual).

Account status checks will be performed at the end of each day to ensure that client funds are not being used for trading.

The daily interest summary will be calculated according to the following formula:

Daily % = (No-guarantee credit) * Interest rate / 100 / 360

Waiver of Margin Credit = the client’s own current amount of excess funds.

Interest rate = the specified interest rate

360 = the number of days in a year.

The interest calculation formula is set by the software developer and cannot be changed.

The calculated quantities are made daily and saved automatically.

Interest accrued throughout the month will be paid on the last day of the month.

The natural increase is treated as a balance and will be marked “IR”.

No interest paid on Muslim accounts – Only active accounts have organic growth. If your account is still on file or dormant on the last day of the calendar, the interest you earned during the previous active period (originally calculated daily interest for the month) will be forfeited. If there is no activity on the client’s account, the company will have the right to modify the APR calculation status or even cancel it. Rarely transaction history will also be considered a modification factor.

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