Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 12 U.S.C. § 4306 | Payment of interest | us | united_states_code | code_section | 12 | BANKS AND BANKING | 44 | TRUTH IN SAVINGS | 4306 | 12 U.S.C. § 4306 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip | /us/usc/t12/s4306 | data/legal/raw/us/code/title-12/usc12.xml | bbecbd55253d7a6b48e42e40c7ea4a7637dc7d11d56aa0e12cfb98efdacf76f9 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | fcb3561e2fb86602631d48246fdbb47c055ae03d79e3407cd93e65e6ff700f7e | 2026-07-04 | official |
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12 U.S.C. § 4306 - Payment of interest
Text
(a) Calculated on full amount of principal Interest on an interest-bearing account at any depository institution shall be calculated by such institution on the full amount of principal in the account for each day of the stated calculation period at the rate or rates of interest disclosed pursuant to this chapter.
(b) No particular method of compounding interest required Subsection (a) shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest.
(c) Date by which interest must accrue Interest on accounts that are subject to this chapter shall begin to accrue not later than the business day specified for interest-bearing accounts in section 4005 of this title, subject to subsections (b) and (c) of such section.
(Pub. L. 102–242, title II, § 267, Dec. 19, 1991, 105 Stat. 2338; Pub. L. 102–550, title XVI, § 1604(e)(2)(B), (C), Oct. 28, 1992, 106 Stat. 4084.)
Notes
Editorial Notes
Amendments1992—Subsecs. (a), (c). Pub. L. 102–550 made technical amendment to references to “this chapter” to reflect correction of corresponding provision of original act.
Statutory Notes and Related Subsidiaries
Effective Date of 1992 AmendmentAmendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.