BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
interest in SB accounts will be calculated on daily product basis and credited to the account at ____
A
monthly intervals
B
bi-monthly intrevals
C
quaterly intervals
D
half yearly intervals
Explanation: 

Detailed explanation-1: -At present, interest on savings bank accounts is calculated on the minimum balances held in the accounts during the period from the 10th day to the last day of each calendar month.

Detailed explanation-2: -According to HDFC Bank website, “savings bank interest will be calculated on the daily balances maintained in your account. Savings Bank interest will be paid at quarterly intervals."

There is 1 question to complete.