Multiple choice general knowledge

As per RBI circular,saving account interest will be calculated as

  1. Monthly balances maintained in your account

  2. Annually balances maintained in your account

  3. Daily balances maintained in your account

  4. Quaterly balances maintained in your account
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

As per RBI guidelines, savings account interest is calculated on the daily balance maintained in the account, not on monthly or quarterly averages. This regulation, effective since 2010, ensures fair interest calculation based on actual daily balances rather than minimum balances.

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