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

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

Daily balance is counted and interest is paid accordingly

On average half yearly balance.

Which of the following methods is being adopted by Banks for calculati

1.	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.
Answer» C. On average quarterly balance.

Discussion

No Comment Found

Related MCQs

Which of the following states has launched ‘Atta-Dal Scheme’ under which atta and dal will be supplied at affordable prices to ration card holders ?
Which of the following is a form of ‘Small Savings Bank’ popular among the poor or children ?
Which of the following organisation prepares rural credit plans on annual basis for all districts in India, which in turn from the base for annual credit plans of all rural financial institutions ?
India recently signed a significant Border Pact with which of the following SAARC countries ?
Which of the following North-East states will soon get its bamboo park? The objective of the project is to create integrated infrastructure for promotion of bamboo based industrial and commercial activities.
Goa Legislative Assembly has ratified the National Judicial Appointments Commission Bill 2014 passed by Parliament. The Bill needs to be endorsed by at least ____states before it can be sent for Presidential assent and brought into effect.
‘Concede to’ means __________
Many times we read a term ‘Tax Haven’ in various newspapers. What does it mean ? It is a country where certain taxes are levied at a very low rate. It is a country where people can dump their illegal money without any problem. It is a place where foreigners can work without paying any tax on their income.
Which of the following services/products of banks is specially designed and launched to help students?
As per various reports issued by the UNO and other world bodies, agricultural and allied activities consume what percentage of global water resources every year ? About—

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

Discussion

No Comment Found

Related MCQs

Reply to Comment