Which is better, a Monthly interest account or a Daily interest one?

Deep-Dive View

Monthly Interest Account: Typically pays interest on the minimum balance in the account during one full calendar month.
Daily Interest Account: Pays interest on the daily balance.

If your account balance varies significantly through the month, you will likely earn lower interest amount in a Monthly Interest Account vis-a-vis a Daily Interest one, even if the interest rate of the Monthly Interest Account is higher than a Daily Interest one.

Date Balance (in EGP) Edit
Monthly Interest Account Daily Interest Account
Interest rate, % p.a. 19 16
Min. balance during the month
Interest earned during the period