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Interest Accrued

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Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2010 Does interest accrued apply only on Cumulative Deposits?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

Balakrishnan

Balakrishnan (Expert)
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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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