Bank deposit and withdrawal rule to avoid zero intrest
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I am having saving bank account in few banks. Like kotak 811.
From google search I came to know that some banks dont give intrest if money withdrawals before 10th of the month.
So if someone deposit money on 1st march, he should withdraw after 10th april. Is it calculated like this? For every bank? Experts comments please.
From google search I came to know that some banks dont give intrest if money withdrawals before 10th of the month.
So if someone deposit money on 1st march, he should withdraw after 10th april. Is it calculated like this? For every bank? Experts comments please.
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I never heard about this 10th day of the month calculation. Even payments bank calculate amount daily.
One more thing, if the total interest will be less then 1, then you will get nothing.
One more thing, if the total interest will be less then 1, then you will get nothing.
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Most of the banks calculate interest based on the daily balance, except some shitty banks.