HIGHER STILL.
BANK RATE RAISED. INCREASE OPERATES TO-DAY. SEVEN PER CENT OVERDRAFTS NEW SCALE FOR DEPOSITS. (By Telegraph—Press Association.) WELL I NGTON, Friday. The chairman of the Associated Banks announces that on and after February 1 the following rates of interest will be paid by the banks on fixed deposits: For any period between three and 12 months! 3i per cent; for any period between 12 and 24 months, 4} per cent; for 24 months, 5 per cent. The minimum overdraft rate will be increased to 7 per cent. In the new scale the rate or interest for three to 12 months is not alteredthere is an increase of \ per cent for 12 to 24 months, while the rate lor 24 months is increased by A per cent. The increase in the overdiaft rate is - ilso A per cent. A cablegram from# Sydney, published on Wednesday, st.ited that the associated banks had raised their rates for both deposits avid advances. The rate for advances was increased by } per cent, the new minimum being 7 per cent.
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Bibliographic details
Auckland Star, Volume LXI, Issue 27, 1 February 1930, Page 12
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176HIGHER STILL. Auckland Star, Volume LXI, Issue 27, 1 February 1930, Page 12
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