Why do banks calculate interest on the monthly minimum balance of your account

Leader Board

Leading Experts		Credits
1.	MortgageEnde	11842	Level 7
2.	ANiyazi	4816	Level 5
3.	mortgagepro	4496	Level 5
4.	carrielawlor	1676	Level 4
5.	MortgageManC	1105	Level 3
6.	t_cameron76	558	Level 2
7.	admingal1975	519	Level 2
8.	khourypa	362	Level 2
9.	Pattymurph	341	Level 2
10.	Flip	307	Level 2
11.	propertysold	264	Level 2
12.	Magan	245	Level 1
13.	michaels4316	245	Level 1
14.	Ron	244	Level 1
15.	Tristan	238	Level 1
16.	Ned	238	Level 1
17.	geoff12345	237	Level 1
18.	ConsumerProt	234	Level 1
19.	Shirly	232	Level 1
20.	Tracey	228	Level 1
21.	Charlie	218	Level 1
22.	Desperatewif	213	Level 1
23.	Jennette	206	Level 1
24.	Alejandra	201	Level 1
25.	Eusebio	199	Level 1
View all

Answer

Report Abuse

Vote:

Asked by
anonymous

Why do banks calculate interest on the monthly minimum balance of your account?

In Mortgage

Industry Experts

+ Add Expert

Not answered yet... WE NEED YOUR HELP !!!
Often a discussion will lead to an answer so if you don`t know the
complete answer just enter your best ideas on the matter.
No signup required. Just enter your answer and hit save!
Yes, also subscribe me to this question so I can follow the discussion

Can you help us by answering one of these related questions?

We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

Q: Why do banks calculate interest on the monthly minimum balance of your account?

Categories

Why do banks calculate interest on the monthly minimum balance of your account

Industry Experts