Bank Announcement: Changes to Savings Account Interest Payment Dates
Detail
The Bank will change the interest payment dates for the Savings Account and Basic Banking Account.
Existing Condition:
- Interest is paid twice a year, calculated on the daily balance until the second Friday of June and December. After the Bank deducts any applicable withholding tax, the interest will be available for withdrawal the next day.
New Condition:
- Interest is paid twice a year, calculated on the remaining balance at the end of each day until the 25th of June and December. After the Bank deducts any applicable withholding tax, the interest will be available for withdrawal the next day.