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March interest calculation
April 2, 2020
8:55 am
stingray
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B2b / Lbc double check your % folks, my acct short $$, Inaccurate and Incompetent ...no excuse...beware

April 7, 2020
10:31 am
SaverJunior
Toronto
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Same here. Interest received for January and February were correct. But that for March falls short. I suspect it has something to do with how the bank handles the leap day. Can anyone share the method LBC/B2B calculate the interest for month of March (i.e. from Feb 29 to Mar 30 inclusive)?

April 7, 2020
2:06 pm
Norman1
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The March interest credited to my LBC Digital HISA is okay.

The per-diem rate for the days in 2020 is the per-annum rate divided by 366, instead of by 365.

There were three different interest rates for time covered by the March 31 interest payment:

April 8, 2020
5:01 am
hwyc
GTA
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SaverJunior said
... month of March (i.e. from Feb 29 to Mar 30 inclusive)?  

That's what I missed. Thanks to both. sf-smile

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