Interest

(1) Interest shall be payable on deposits at the rate of two and one-half per centum per annum, or at such other rate as may be fixed from time to time by the Minister by Order published in the Gazette. (2) No interest shall be payable on any amount less than one dollar or on any fraction of one dollar. (3) Interest shall commence to accrue on the first day of the month next following the day of deposit, and shall cease on the last day of the month preceding that in which such deposit shall be withdrawn. (4) Interest on deposits shall, subject to subsection (2) of this section, be calculated to 31st March in every year and shall then be added to and become part of any principal money remaining on deposit.