BANK INTEREST.
Joseph AVard, in liis defence of ths oliargea by the banks, surely displays a great ignorance of the position. He alleged that these did not exceed G per cent. Some time ago ■ r arranged for an overdraft on the security 0 "ade promissory notes and deeds. The security was overwhelming. It was ax. ranged that I pay C per'cent, interest. J wascongratulating myself that, notwithstanding the tightness of money, my inte r st . c w ra J,ad not been increased. U jsliuig to verify this opinion some months ago, I inquired what interest I was being charged. To inv astonishment 1 was informed that I was paying 7 per cent., and this had been going'on for at least two years! • I am strongly of opinion that, if tho bank decided to charge more, that I should have been notified. I think thai provision should be made in future(banking legislation to make such acta illegal.—l am, etc..
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https://paperspast.natlib.govt.nz/newspapers/DOM19160530.2.36.3
Bibliographic details
Dominion, Volume 9, Issue 2783, 30 May 1916, Page 6
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158BANK INTEREST. Dominion, Volume 9, Issue 2783, 30 May 1916, Page 6
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