The interest rate on Ordinary Account (OA) monies is adjusted quarterly. OA monies earn either the legislated minimum interest of 2.5% per annum, or the 3-month average of major local banks’ interest rates, whichever is higher.
The OA interest rate will be maintained at 2.5% per annum from 1 January 2015 to 31 March 2015, as the computed rate of 0.21% is lower than the legislated minimum interest rate.
