Interest on Saving Account on Daily Basis from 01-04-2010 and Calculator

Good news for all saving account holder, From 01-04-2010 the saving account holder of any bank will get the interest on daily basis. It will increase the interest for saving account holder almost 30-40 basis points.
Earlier the interest on saving account was calculated on the minimum balance from 10th of the month to the last day of the month.Now on the daily product basis the amount of the interest will increase for sure to 30-40 basis points.
But there is no clear guidiness of the Reserve Bank of India(RBI) as how the interest amount will be paid. Earlier the interest amount   paid on yearly or half yearly basis. If the interest amount will be paid on monthly basis, it will be more beneficial for the bank ccount holder.
For downloading the excel based calculator for daily product basis go to CALCULATOR
Share on Google Plus

About Nitin Aggarwal

    Blogger Comment
    Facebook Comment

0 comments:

Post a Comment