Finance houses offer lower rates

Press, 4 March 1978, Page 19

Finance houses offer lower rates

Broadlands Dominion Group, Ltd, and Marac Holdings, Ltd, have issued new prospectuses with adjustments to interest rates offered on deposits. In line with other finance houses, both have generally reduced their rates,. but Broadlands is holding its top rate of 13 per cent for longer term deposits. Broadlands seeks SISM in debenture stock, and SSM in unsecured deposits, with the right to accept oversubscriptions for a further SISM, and SIOM respec-j tively.

I The rates offered by I Broadlands for debentures at I call, one month, and three I months, remain unchanged jat 8 per cent, 8.5 per cent, | and 9 per cent respectively. For six months, the rate has been reduced 1 per cent to II per cent. Marac, in its debenture prospectus for S2OM, plus ! oversubscriptions of SISM has lowered its rates for most terms. The top rate, previously 13.25 per cent has been reduced to 12.5 per cent. i The new Marac rates for I secured debenture stock are: three months, 9 per cent (previously 9 per cent); six months. 10 per cent (11 per cent); nine months, 10.5 per cent (12 per cent); one year, 12 per cent (13 per cent); two years, 12 per cent (13.25 per cent); three years, 12.5 per cent (13.25 'per cent); four years, 12.5 per cent (13.25 per cent); five and six years, 12.5 per cent (13 per cent); and for seven years and over, 12 per cent (13 per cent).