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Important Notice on SB Interest Calculation Period and Credit Date
This is to inform all that the interest credit in SB account stands modified as tabled below:
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Current SB Interest Calculation Period
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Existing Interest Credit Month
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Revised SB Interest Calculation Period
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Revised Interest Credit Month
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March, April, May
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June
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April, May, June
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July
|
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June, July, August
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September
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July, August, September
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October
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September, October, November
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December
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October, November, December
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January
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December, January, February
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March
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January, February, March
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April
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With this modification, Interest will be credited in SB accounts as follows:
- SB interest credit for the months of March, April & May will be initiated from 4th of June Onwards and will be completed by 10th of June 2024.
- SB interest for the month of June 2024 will be credited in July 2024.
- Thereafter the SB interest will be credited in the Financial Year Quarter. (as explained in above Table 2)
- The SB interest credit cycle is set in such a way that all the SB accounts will receive the interest credit in the first 10 days of the interest credit month.
Requesting your continued patronage and understanding