kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Jan 28, 2017 14:47:55 GMT
A 06- loan so I'm assuming 13% interest. 13% / 12 months * 120€ = 1.30€ which matches your expectation I haven't tracked my Twino loans actively for the past couple of months, but when I started I tracked everything for 6 months and it always matched. One thing I did noticed is that sometimes interest payments can be spread out over multiple lines in your account statement. So I would check that first and if that is not the case send Twino an email concerning this. Actual calculation should be 13% * Number_of_Days_Held/365 * 120€. In your case you must have held for 30 days giving 1.2821€. Although you only see the rounded 1.28€, you do actually get the extra decimal places although this is only evident when you combine it with other loans and the extra fractions add up to make a full cent.
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Post by southseacompany on Jan 28, 2017 15:25:13 GMT
Although you only see the rounded 1.28€, you do actually get the extra decimal places although this is only evident when you combine it with other loans and the extra fractions add up to make a full cent. I think this has no practical purpose to speak of, but you can actually see your current Twino balance with 4 decimal place accuracy by following this link (only works when you're already logged in).
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Jan 28, 2017 15:37:28 GMT
I always like to dig down into the details of how the interest is calculated because it is different between platforms. I've heard that previously Twino allowed 0.01 investments and due to rounding, you could get 100% returns on these. Although due to the volume you would not be able to get much invested this way.
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