Daily interest will be paid on entire daily balances provided the balance exceeds RM10,000 on any given day. Interest will be accrued on the entire balance at the published rate, compounded monthly.
2007-03-28 17:25:06 · 2 answers · asked by Kepongboy 1 in Business & Finance ➔ Personal Finance
ineterest will be calculated and paid by your daily balance, not your average daily balance. but it does not compound daily-meaning cash you made from the previous days interest will not be factored into your next days balance-you wont start earning interest off of the interest you have earned until the next month. many banks who compound interest this way do not count that interest if you withdraw more cash then the amount of interest you earned the previous month. its confusing...
but i hope that helps.
2007-03-28 21:23:13 · answer #1 · answered by comic book guy 5 · 0⤊ 0⤋
They credits you with in ordinary terms a smidgen of activity daily . each and all the smidgens compounded up could come to one million% a 300 and sixty 5 days. besides the undeniable fact that, to simplify the bookkeeping, they pay the activity on your account month-to-month. It avoids shuffling a great number of fractional pennies. one million% is not any such great activity fee, yet you may ought to keep around to get greater suitable than that. Grandpa
2017-01-05 10:14:08 · answer #2 · answered by bolander 3 · 0⤊ 0⤋