Daily accrual
Your balance earns interest for every calendar day it sits in the Call Account, including weekends and public holidays. Accrual is calculated on the closing balance each day.
Money added today starts earning tomorrow; money withdrawn today keeps the interest already accrued.
Monthly credit
Accrued interest is credited to your Call Account balance on the first day of each month, after which it earns interest itself. That is what makes the effective return slightly higher than the quoted rate.
When to use it
Emergency funds, money waiting for a fixed plan to open, and short-term savings goals. Anything you might need at short notice belongs here rather than in a locked plan.