Does simple interest apply to demand notes?

**Simple interest** is used in discounting checks. Compound interest is typically used for long-term borrowing. In commercial transactions, simple interest is the standard for check discounts lasting between 30 to 180 days.

How is the bank discount rate determined for a check?

The bank determines the discount rate based on the customer's credit score, the creditworthiness of the company from which the check is drawn, and current market interest rates.

**What's the difference between factoring and discounting with a bank?**

Factoring companies purchase your outstanding invoices, taking on the associated risk. In contrast, bank discounting involves a return of the payment (with interest) if the check is dishonored. Factoring is generally more expensive, but it transfers the risk to the factoring company.

Tr cheque/note maturity — Free Online

Çek/Senet Nominal Tutar (TL)

BugünVade tarihi

Yıllık faiz oranı (%) — banka iskonto/temerrüt

Vadeye kalan gün90 gün

Nominal (yazılı tutar)100.000,00 ₺

Faiz tutarı+11.250,00 ₺

VADE SONU TUTAR111.250,00 ₺

AI Doğrulama

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Hesaplama: Basit faiz formülü (V = N × r × t/360). Banka uygulamasında ek BSMV (%5) veya komisyon olabilir. Vadesi geçmiş çekte temerrüt faizi gerçek piyasa faizinden yüksek hesaplanır (gecikme zammı eklenir).

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Frequently asked questions

The discount is calculated as Nominal Value × Interest Rate × (Days / 365). The present value is then calculated as Nominal Value - Discount. For example, a 90-day check worth 100,000 TL with a 60% annual interest rate would have a present value of 100,000 - (100,000 × 0.60 × 90/365) = 85,205 TL.

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