Money Banking And Interest Rates. MoneyRates.com makes it easy to start earning more money. Interest: Money that you earn for having your funds deposited with a bank.
Interest is paid on the entire account balance based on the interest rate and APY in effect that day.
Savings Bank Account interest is calculated on a daily basis on the daily closing balance in the Account, at the rate specified by ICICI Bank in accordance with Reserve Bank of India directives.
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Even though rates are at levels that are historically very low, there is competition for your money. MMAs share many features with standard savings and checking accounts. It can get seriously complicated, with many anomalies, so for starters this guide covers the basics first.
