Banking General Awareness Banking System Question Bank Practice Questions - Banking and Banking Structure - Legal Aspects

  • question_answer
    Which of the following methods is being adopted by Banks for calculating and applying interest on Savings Bank accounts?

    A)  On monthly products based on minimum balance between 10th and last working day.

    B)  Daily balance is counted and interest is paid accordingly

    C)  On average quarterly balance.

    D)  On average half yearly balance.

    E)  None of the above.

    Correct Answer: B


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