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Old 01-05-2019, 11:33 PM   #5341
Boy who Procrastinates
Junior Member
 
Join Date: Oct 2018
Posts: 78
if i receive interest on 30th of April, can i draw out the interest today 2nd may without affecting counter? i assume the tnc is lowest balance in current month must be higher than lowest balance in previous month without reseting the counter? Or Or need to withdraw on 30th of every month i.e. same day when interests is credited?
Yes you may withdraw the interest only in the following month without affecting counter.


Withdrawal of Interest without Resetting the Counter

For example, an account holder has amassed a balance of $150,000 at the start of the month and has decided to withdraw the excess interest which earns a paltry 0.05% interest rate. At the end of the month, the base and bonus interest is credited to the account but the lowest balance of the month remains at $150,000.

Lowest Balance in Month 1: $150,000

The account holder then withdraws the interest at the start of the following month, leaving the balance of $150,000 untouched.

Lowest Balance in Month 2: $150,000

As the lowest balance in Month 1 is equal to the lowest balance in Month 2, the Counter will raise by 1. If the Counter has already reached the maximum count, it will not reset.
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