Skip to Content

No. of days calcation for facility charges in Overdraf facility

Dear TRM experts,

We have overdraft facility deal which was started 01.04.2019 and ends on 31.03.2020 with other flow type facility charges. We have created OD drawn as below and link with OVF.

First OVD starts on 01.04.2019 and ends on 29.04.2019 total number of days for interest calculation is 28 days

4/1/20194/28/201928.00 correct

Second starts on 29.05.2019 and ends on 01.07.2019 total numbers of days should be 34 days but is calculating

5/29/20197/1/201933.00 in correct

Please let me know why system is calculating in correct in second OVD.

Thanks in advance.

KISHORE CHEEDA

Add a comment
10|10000 characters needed characters exceeded

Related questions

1 Answer

  • Posted on Oct 29, 2019 at 10:44 AM

    Hi Kishore Cheeda,

    It's the Interest Calculation Method you selected. One has Base 365 and the other 360.

    Kind Regards

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.