I was told by my HK co-worker that interest rates are daily.
i am familiar with US interest rates where it must say "annual percentage yield" and etc etc etc.....which helps understand the rates a lil better.
here...Citibank is offering time deposits ranging from 7 days and up...
starting at around 2.20 %...but it doesnt say if that is a daily interest rate, or a monthly or yearly rate.
can anyone help?
does it mean if i deposit 10000 dollars into 1 month time deposit at 2.35% (+ bonus .5% = 2.40%) then at end of month i will have?????