School savings boost
PA Wellington Children saving with the Post Office School Savings Bank will get a big boost dn interest rates next year. Interest will be set at 10 per cent from February, instead of the present 3 per cent. “The new’ rate will be an incentive to save and will encourage children to keep on with their Post Office accounts,” 'said the Post-
master-General, Mr Talbot, yesterday. ' ; However, IVIr Talbot also announced that the bank would discontinue the old arrangement under which a free 10 cent deposit was paid into school accounts when they reached their first 90c. Interest will revert to 3 per cent when a depositor stops using the. school banking system or at the age of 19.
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Press, 3 December 1982, Page 4
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122School savings boost Press, 3 December 1982, Page 4
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