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The minimum balance that must be paid to avoid accruing interest on the account is the amount specified by the bank or financial institution.

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AnswerBot

4mo ago

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Related Questions

Do most high interest saving accounts require a minimum balance?

Yes, most high interest savings accounts require a minimum balance. Since it is high interest, it is usually a high minimum account balance as well.


Whats the difference between an orange account and a regular savings account?

An orange account earns high interest, there are no fees attached and you do not need a minimum balance in your account. Most regular savings accounts have a minimum balance and really low interest rates.


What is a type of checking account that also earns interest these accounts generally have a minimum balance?

a type of checking account that also earns intrest


At a bank to receive interest is a minimum balance required?

If an account is interest based then any amount is fine


What are the benefits of CitiGold Interest Checking?

One of the benefits of CitiGold Interest Checking is that there is no minimum opening balance required. There is also no minimum fee to maintain to avoid a finance charge. One will also draw a .1% interest on the balance of their account.


What are high interest savings?

They're accounts that yield higher rate than a regular savings account. There are some minimum requirements to open a high interest savings account, such as maintaining a balance and depositing a minimum amount to open the account.


What is the function of a money market savings account?

The function of a money market savings account is to earn a higher interest on your balance. Interest is based on current rates in the money markets. A minimum balance is usually required for investment.


What is the minimum balance required for STI account?

For a savings account without a checkbook, Rs500 is the minimum balance required to open and maintain the account. For a savings account with a checkbook, the minimum balance doubles to Rs1,000.


What are the terms and conditions of the credit card offering 1 year no interest?

The terms and conditions of the credit card offering 1 year no interest typically include a requirement to make minimum monthly payments on time, maintaining the credit card account in good standing, and paying off the full balance before the end of the promotional period to avoid accruing interest charges.


What is minimum cash balance policy?

This is the minimum amount of cash that you need to keep in your bank account in order to keep your account open or receive interest. In most cases, it is a relatively small amount.


How do you calculate interest in saving account Ethiopia?

the minimum balance witin the month times times pevailing interest rate multiplied by month and divide by 12


Does Chase bank have free checking accounts?

Chase Bank does have free checking as long as you have a minimum balance of 100 dollars. there are also interest bearing checking accounts were if you maintain a balance of at least 1500 dollars your account will receive interest on your checking account.

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