Accounts At 5 Per Cent
The Post Office was now accepting deposits for new savings accounts bearing interest of 5 per cent, the Chief Postmaster (Mr M. T. Reedy) said yesterday. The new accounts, authorised by the Minister of Finance (Mr Muldoon) in the Budget, are for deposits of not more than $6OOO for a minimum of two years. The accounts must contain at least $2OO and deposits must be in multiples of $2O. The 5 per cent interest rate will not apply until September 1. Accounts opened before then will be credited with interest at not less than the current Post Office Savings Bank
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Press, Volume CX, Issue 32360, 28 July 1970, Page 16
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105Accounts At 5 Per Cent Press, Volume CX, Issue 32360, 28 July 1970, Page 16
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