Common use of CREDITING AND DEBITING OF INTEREST Clause in Contracts

CREDITING AND DEBITING OF INTEREST. At such times as will be determined by the Bank but at least once a year, the Bank shall credit or debit, as the case may be, the current interest to the account of the Customer. If the time at which the current interest is credited to the said account does not coincide with the time at which the current interest is debited to such account, the Bank shall inform the Customer in writing.