# The Banking Act 1987 (Exempt Transactions) Regulations 1997, Paragraph 13: INTEREST


Participating Societies will tell members and customers the interest rates applicable to their accounts, the basis on which interest is calculated and when it will accrue or be added to their accounts. Participating Societies will explain also the basis on which they may vary interest rates.

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Source: https://www.legislation.gov.uk/uksi/1997/817/schedule/4/paragraph/13 (the official version)
Page: https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997/schedule-4/paragraph-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.