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CA 394 Section 8

CA 394 Section 8

Section 8

SEC. 8. Section two thousand and twenty-two of the Revised Administrative Code is amended so as to read as follows: "SEC. 2022. Time and manner of computing interest.— Interest on a regular savings account shall be computed annually upon the lowest monthly balance during each calendar month the amount remains on deposit, and shall be placed to the credit of the depositor's account in the central office and thereafter draw interest. "Interest shall be allowed only for the time the amount is of record as a deposit in the central office: Provided, however, That deposits recorded in the central office of the bank during the first five days of any calendar month shall be allowed interest from the first day of the month they are so recorded. No interest shall be computed upon fractions of a peso. "Interest on special-deposit accounts shall be computed in accordance with the regulations of the bank."

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationCA 394 Section 8 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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