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Frequently Asked Questions:
Share Capital Deposits and Interest
What is the cut-off period for share capital deposits?
The cut-off period is the 3rd day of the current month. Deposits made on or before this date are treated differently from deposits made after the cut-off period.
When will my deposit start earning interest?
If your deposit is made within the cut-off period, it will earn interest for the current month. If your deposit is made after the cut-off period, it will start earning interest in the following month.
Does the cut-off period apply to new members?
No. The cut-off period does not apply to the initial share capital deposit of new members. A new member’s initial share capital will start earning interest in the month of deposit/remittance. For any additional or subsequent deposits, the cut-off period will apply.
How will my deposit be recorded if it is made within the cut-off period?
If your deposit is made within the cut-off period, it will be recorded as Share Capital, with the pay period set as the current month.
How will my deposit be recorded if it is made after the cut-off period?
If your deposit/remittance is made after the cut-off period, it will be recorded as APNT (Share Capital), with the pay period set as the current month.
What happens to APNT (Share Capital) in the following month?
On the first day of the following month, transactions recorded under APNT (Share Capital) will be adjusted to Share Capital.
How will this appear in my passbook?
Your passbook will show separate columns for transactions under Share Capital and APNT (Share Capital).