21.   Does your current account pay interest?

22.   Interest is paid monthly.

23.   Interest is paid gross, rather than having tax deducted.

24.   Interest is paid at maturity except for CDs lasting longer than a year, in which case interest is paid annually.

25.   Explicit interest is not paid on discount instruments.

26.   Securities that are sold at a discount, pay no interest explicitly, and mature at par are known as pure discount securities.

27.   This allows for the fact that a coupon security will pay interest before it matures whereas a discount security will not.

28.   The second result follows from the fact that the TB is priced to include accrued interest but the interest is not paid till maturity.

29.   Eurobonds are generally bearer bonds, pay interest free of tax, and are usually unsecured but offer a negative pledge.

30.   In the past, sight deposits did not pay interest.