We follow calendar quarters i.e.
- 1st Jan - 31st Jan.
- 1st Feb - 28/29th Feb.
- 1st Mar - 31th Sep.
- And so on...
If you get your account activated in the middle of the month, amount is charged only for the remaining days in the month. e.g. for a commercial account,
- Amount for the full month: INR 500/-
- Getting account activated on: 1st Jan.
- No of days: 31. From 1st Jan to 31th Jan (End of Month)
- Amount: (500 / 30) * 30 = INR 500/-
- For simplicity, we consider 30 days in each month. Amount is rounded to the nearest full rupee.