Local Body Loans
Sir,—The failure of local body loans is due to the reduction of the interest rate from 5 per cent, to 4 7-8 per cent., and to the reductions of amounts allowed for the shorter term of six years. Five per cent, is a reasonable rate and should never have been altered, and the six-year term is quite long enough for elderly investors, who should be given some ■ consideration. in our loans.—Yours, etc., WOULD-BE INVESTOR. December 1, 1960.
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Bibliographic details
Press, Volume XCIX, Issue 29378, 3 December 1960, Page 3
Word Count
80Local Body Loans Press, Volume XCIX, Issue 29378, 3 December 1960, Page 3
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