APPENDIX B 
159 
(c) Interest shall be computed upon the low 
est monthly balance to the credit of the account 
during each month of the fiscal year and shall be 
placed to the depositor’s credit at the end of 
each fiscal year: Provided, That if the account 
is closed during the fiscal year the interest shall 
be added at the time the account is closed. 
(d) No interest shall be allowed upon frac 
tions of a peso or for the fractional part of a 
calendar month. 
(e) The Philippine Government reserves the 
right to alter the rate of interest at the end of 
each fiscal year. 
(/) At the end of each fiscal year the chief of 
the postal savings bank division shall send a 
statement of the interest accrued on each deposit 
to every depositor, and a duplicate statement of 
the same to the postmaster of the postal savings 
bank most convenient to the residence of said 
depositors, respectively, and said postmasters 
shall, upon presentation of the deposit books by 
the respective depositors, together with the 
above-mentioned statement, enter the amount as 
a deposit in the deposit book of said depositor 
in the manner provided in section eight of this 
Act. 
(g) Any postal savings bank account upon 
which there has not been made, for a period of 
ten years, any deposit, withdrawal, or other 
operation made on demand of the depositor, or 
his legal representatives or assignees, shall cease 
to be productive of interest and shall be reim 
bursable at the amount existing to the credit of 
said depositor upon the thirtieth of June follow 
ing the date upon which said ten-year period 
shall have expired: Provided, That in the case 
of deposits made by one person or society to the 
credit of another person or society under the 
stipulation that the latter person or society shall