INTEREST FIXED AT FIVE PER CENT.
AI>V.\N('KS TO SO 1.0 IKK ; SKTTI.EKS . - r. - u:. ■> i "..r.:- .■ WELLINGTON. August 16. Ii; the House of Representatives. I the Minister for Lands, the Hon. K. |A. Ransom said he desired to inform ' members that the Government had ! Jecided. as from October 1 next, to J ilx the rate of interest on current ■account advances made under the Discharged Soldiers' Settlement Act, ! the Land Laws Amendment Act. 1192 D, and the Land Laws Amendment I Act, 1932. at 5 per cent. The amount of such advances is approximately £550,000, and the present rate of interest on that aiuoii'ji is t> per cent., and in a few cases tj' ; per cent. "The major portion of such advances is held by returned soldier settlers tinder the provisions of the Discharged Soldiers' Settlement Act. and represents those advances which have been rearranged and which, under the regulations, carry interest at (i per cent.." said the Minister. "It may be added there is still a number of cases where returned solidiers are holding current account j mortgages at the old rate of 5 per ! cent.r and this decision will bring jail such accounts into line."
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Bibliographic details
Press, Volume LXX, Issue 21245, 17 August 1934, Page 12
Word Count
197INTEREST FIXED AT FIVE PER CENT. Press, Volume LXX, Issue 21245, 17 August 1934, Page 12
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