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If I activate savings account on 01 November 2012 , Interest compounding period: Annually , Interest posting period: Annually ,
In transactions page interest is getting posted (on 1 January 2013) immediate 1 January, my doubt is
1. Why the date 1 January?, is that is start of financial year?
2. If so Financial year vary from country to country, ( eg. 1st April, 1st October etc)
3. Is there any possibility for choosing financial year starting date,
Please clarify.