Interest Accrued
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2010
Does interest accrued apply only on Cumulative Deposits?
10 December 2010
Query is not clear, If it is about accounting, Accured interest only the interest for the particular period need to be received
If it is related to Bank deposits scheme, based on the scheme the interest, if treated as re deposit then it is apply cumulative deposits
If it is related to Bank deposits scheme, based on the scheme the interest, if treated as re deposit then it is apply cumulative deposits
13 December 2010
It equally applies to Term Deposits too, when interest payable at year end has not been paid by the bank.
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