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of <h1>Rule 8A: Penal Interest Rate for Overdue Public Deposits; 18% General, 20% for Small Depositors per Section 58AA</h1> Rule 8A of the Companies (Acceptance of Deposits) Rules, 1975 mandates a penal interest rate for overdue public deposits that have matured and been claimed but remain unpaid. A general penal interest rate of 18% applies, while a higher rate of 20% compounded annually is applicable to deposits made by small depositors. The term 'small depositor' is defined as per section 58AA of the Act. This rule was introduced by an amendment effective from November 28, 2001.
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