What is special about a savings account with interest accrued on the minimum balance?

For a savings account, interest is accrued on the minimum amount of funds held in the savings account at the beginning of each day throughout the entire interest period. Interest is accrued from the day following the day the savings account is opened. Interest payments are made by the bank monthly on the account opening date by crediting the amount of interest to the account balance (capitalization). If the account is closed before the end of the settlement period, interest for the current month is not accrued.

The interest rate on the savings account depends on the minimum balance in the account during the interest period. The maximum balance amount for receiving the increased rate is not limited.