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WealthTime DepositQuestion Detail
How is the interest of Time Deposit calculated?

Earnings = Principal x Time Deposit Interest Rate ÷ 360 x Tenor

According to government regulations, your earnings on interest will be subject to withholding tax imposed by the government. The withholding tax rate is 20% of the interest, deducted by the bank on your behalf. Therefore, the actual amount credited to your account is 80% of the interest.

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