How Is Savings Account Interest Calculated in India? Daily Balance, Slabs and Monthly Credit Explained
Every Indian bank calculates savings interest on the daily closing balance, and AU Small Finance Bank states the formula on its product page: (Daily Closing Balance × Interest Rate × Number of Days) ÷ 365, at up to 7%* p.a., paid monthly. AU applies rising slab rates to the incremental balance in each band; SBI,… Continue Reading

