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## Balance Sheet \$type=three\$count=6\$author=hide\$comment=hide\$label=hide\$date=hide\$show=home\$s=0

If you are listening finance news on your TV, You would listen that RBI has changed the calculation method for calculating interest on your saving account. From 1st April, 2010, your interest is calculated on daily base. I am explaining this new method of calculating interest on saving account in bank.

1st April

Cash balance is 100,000 in your saving account in bank = you will receive 3.5% on Rs. 100,000 for 1st April = Rs. 9.7

2nd April

You deposits 100,000 more and now balance is Rs. 200,000 = you will receive 3.5% on Rs. 200,000 for 2nd April = Rs. 19.4

So, with this,  each day investment will give you return on your saving fund in banks in India.

I think, this is good news because it will increase overall earning of customers who are depositing their money in saving account. After using this method, investors who has invested their money in saving accounts of banks will receive 20% to 22% higher interest return than pervious method for calculation of interest.

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Accounting Education: Calculate Interest on Saving Account with New Method of RBI
Calculate Interest on Saving Account with New Method of RBI