The monthly interest calculation is run by the Treasury & Investments team at the end of working day four of the month-end processing period. No further deposit movements should be processed after this date.
How much interest do we earn?
This varies monthly as interest rates move. The reduced rate of interest is 75% of the higher rate.
Monthly UDA rates are available on the Finance Division web page.
Interest is credited to all relevant departmental accounts each month by the end of working day five of the GL month-end closure (subject to any overdrawn accounts issues - see Overdrawn Accounts). It appears as a credit against the transaction code NBAA and will be available to spend or reinvest.