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2026-07-06 10:51:44 -04:00

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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. 102242, title II, § 267, Dec. 19, 1991, 105 Stat. 2338; Pub. L. 102550, title XVI, § 1604(e)(2)(B), (C), Oct. 28, 1992, 106 Stat. 4084.)

Notes

Editorial Notes

Amendments1992—Subsecs. (a), (c). Pub. L. 102550 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. 102550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102550, set out as a note under section 191 of this title.