|Mode of calculation of Interest on Short Deposits and Fixed Deposits for periods less than 12 months :
On deposits repayable within six months
|Interest should be paid for the actual ___________ number of days on the basis of 365 days in a year
On Deposits repayable after six months
where the terminal month is complete or incomplete
|Interest will be calculated for the completed months and where the terminal month is incomplete- the actual number of days on the basis of 365 days in a year.