asked the Minister for Posts and Telegraphs whether the date for assessing interest on deposits in the Post Office has been altered from the anniversary day of the opening of the account to the 1st April in each year; and, if so, if he will state what is the reason for this new procedure.
Ceisteanna—Questions. Oral Answers. - Interest on Post Office Deposits.
Mr. Boland
Interest on Post Office Savings Bank deposits is calculated from the first day of the calendar month next following the day of deposit, up to the 31st December in every year, when the interest is added to the principal sum in the account. No alteration of procedure in this respect has ever been made.