Hello

Please help me with the following

Is compound interest calculated for fixed deposit account or savings account?

Regards

Nikita

Open in App

Solution

Compound interest and simple interest are calculated only for fixed deposits and not for savings account.
Banks do not offer any sorts of interests for savings accounts!
Cheers!

Suggest Corrections

Similar questions

Hello

Please help me with the following

Is interest charged on a current account?

Regards

Nikita

Hello

Please help me with the following :

What is a flexible account?

Regards,

Nikita

Hello

Please help me with the following

What is the future of banking industry in India?

Regards

Nikita

Fixed deposit account provides more interest than savings bank account.

Banks give more interest on Savings Account than Fixed Deposit Account.

Join BYJU'S Learning Program