Bank demand is not a money fund. Bank demand refers to the money deposited by the user in the bank card, which can be withdrawn at any time. Banks calculate interest according to the daily interest rate, which is the interest rate of their own deposits. A money fund is a fund that invests in money market instruments. It is a wealth management product with low risk. Its interest rate is higher than the current period. If the user has liquidity, it is more cost-effective to put it into the money fund.

How often does the bank settle the spot interest?

Bank current interest can be paid four times a year and once a quarter. The settlement date of current interest of all domestic banks is the same, that is, the current interest is settled once every quarter. On the 20th of the last month of each quarter, that is, on March 20th, June 20th, September 20th and 65438+February 20th of each year, the interest will be paid to the user's bank card. If it is a consumer loan (such as car loan and mortgage), the interest settlement date is the 20th of each month; If it is a non-interest-bearing time deposit (including unit and individual time deposits), the interest will be calculated according to the principal after maturity.