Question about the way interest accrues in a savings account?

Say I have $50K in a savings account, and in the middle of the month, before the interest is added at the end, I withdraw half. Do I lose interest on the amount withdrawn from the first half of the month?
Question about the way interest accrues in a savings account?
Most savings accounts use the average daily balance. So if your deposit is there for half the month, you get half the interest.
Reply:It's usually based on the average daily balance.





So if for half the month you had a balance of 50k and half the month you have a balance of 25k, your interest would be calculated on 37.5k.





Some banks do it differently though, so you should check the T%26amp;C of your account.
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