Any bankers here? ? regarding basis points

[disneyfanatic60]

I recently started a new position and banking is not my expertise. The owner wants to know the basis points/interest on their money market acct. Is there a place I can find this on the bank statement or can calculate it? I don't have authorization yet with the bank so I can't call them. I'm trying to avoid going in and telling them "I don't know". Can anyone point me in the right direction???? Thanks.

 

[mnrose]

And, yes, it should be on the most recent bank statement. 10 basis points is equivalent to a tenth of a percent. So, for example, an interest rate 2.5% is said to be 250 basis points.

HTH.