can u let me know how the bankers calculate interest on
O.D.account
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Answer / Khajan Singh Chauhan
Banks typically calculate overdraft (OD) account interest based on the daily balance method, where they charge interest on the average daily balance in your account for a particular period (usually monthly or yearly). The formula to calculate interest is: (average daily balance x number of days in the period x daily interest rate)/365. Bank policies may vary, so it's best to consult with your bank for specific information.
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