The monthly interest calculation is run by the Treasury & Investments team using balances as at the end of working day four of the month-end processing period. No further deposit movements should be processed after this date.
Interest earned varies monthly as interest rates move. The reduced rate of interest is 75% of the higher rate.
Monthly UDA rates are available on the webpage, University deposit account rates.
Interest is credited to all relevant departmental accounts each month by the end of working day five of the General Ledger (GL) month-end closure (subject to any overdrawn accounts issues – see below). It appears as a credit against the transaction code NBAA and will be available to spend or reinvest.
Last updated 15 April 2024