What is the difference between the minimum amount required to open an account and the minimum amount required to calculate interest? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between the minimum amount required to open an account and the minimum amount required to calculate interest?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

The first is a product launch requirement, if applicable, and the second is a balance that may be required to calculate the return.

Key points

  • See Key Facts for calculations.

  • A third limit may be related to fees.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

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