POSTED BY March 22, 2014 8:12 am COMMENTS (3)ON
I want to know how does State Bank of India calculate interest on Fixed Deposit,
1) Is it quarterly,monthly or daily basis, and it is simple interest or compound interest?
2) Does the rate of interest vary daily i.e. if I go to invest on 20 March rate of interest offered to me could be different than the rate of interest offered on 21st March.I am asking this question because when I login to internet banking it does not show me what is rate of interest unless I actually have invested. Or if I have missed some thing let me know.