Bank to pay intrest on monthly basis: RBI guideline
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiN17yW1n2_Pv7nqodo-jKmKjACG7lDtFO1oNWRnwgulTyg_EcBOow03JXJRUoPQFbzoVTVhUQ-4bRfldTioamXePB3byASM45ucN8Yi66UoFCgdLEH3bKGJd90gfhyWR3Hk5zkS2TxeYQ/s1600/Intrest.jpg)
Currently If the three-month interest is Rs 300 then for one month bank used to pay less than Rs 100 for a month .Bank used to deduct some interest in name of early payment. But now owe them a full 100 .
This may create Economic pressure on banks to pay interest every month, but the advantage would be that they will be able to attract more deposits.
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