Savings bank account interest calculation | ഇങ്ങനെയാണ് സേവിങ്സ് ഇന്ററസ്റ്റു കണക്കാക്കുന്നത്

Calculation of bank interest on svings acount is calculated differently than fixed deposits and its tax calculation is also different.
Different banks credits the interest on savings account either quarterly ,semi annually or monthly . Calculation of interest is based on daily balance. Interest on savings account is calculated daily and credit it on monthly ,or in 3 months or in half yearly basis based on banks policy .
It is very important to know how to calculate the bank interest on savings account and fixed deposits. However unlike fixed deposits interest is calculated on daily end of the day avaerage balance.
In this video the interest calcaulation in the case of savings accout is explained in simple way with examples for everyone to understand .
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