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Overdue interest

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27 August 2020 my one fd mature on 22 April 2015. at that time it's Maturity Amount is 31391. Now on 20.08.2020 i Request my Bank to Renew Fd. As per RBI Rule i Get Interest at Saving Bank Rates. My Question is bank calculated interest as per Compound interest formula or by Simple Interest Formula. pl. Guide
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
31 August 2020 The bank would have calculated interest on yearly compound basis but might have credited the interest on quarterly basis.
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