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CALCULATION INTEREST ON CASH

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surfer
Regular Contributor
IF YOU WERE TO DAY TRADE(NOT TO SAY I AM) AND SAY TAKE R20000 FROM YOUR CASH AT 9 OCLOCK AND PUT IT BACK AT 12:00 WOULD YOU GET THE INTEREST FOR THE DAY ON THE R20000
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1 REPLY 1
Preston
Super Contributor
I cannot speak for Standard Bank but my understanding all cash will at the end of the day roll forward from one system to another. Interest is then calculated on the outstanding balance at roll forward time. So in short ,if you have R20 000 at Roll forward time , then "yes" ,you will get the interest. Hope it make sense.
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