If you are planning to put your money into a savings account, it’s natural to find a bank that offers you the highest return on your money possible. You might see some that advertise compounding interest daily or monthly. Which is better for you?
Many banks have also been trying to lure deposits by the way they calculate total interest returns.
Specifically, some banks will compound interest on a daily basis, rather than monthly or quarterly, and this can lead to additional income for the account holder.