I know the interest rate is around 4% but is it monthly, quarterly or annual? If I put 20 k in my account how much will I get as interest and in how much time?

Thanks

As per a recent ruling, all interest rates have to be on a daily basis.

But I think most banks haven't yet changed their software still.

Earlier it was monthly ie. maximum balance between 6th and end of the month.

OK

I know the interest rate is around 4% but is it monthly, quarterly or annual? If I put 20 k in my account how much will I get as interest and in how much time?

Thanks