SAVINGS BANK FIXED DEPOSITS
Arrangements are to be made to enable depositors in the Post Office Savings SDanks to leave money on fixed deposit afc an annual rate of interest yet to be determined. The present rate of interest on savings bank deposits (current accounts) i& 3J per cent, per annum ; but provision is made for raising the rate to a maximum of 5 per cent, per annum should the contingency arise. The same provision is made in the case of interest on the proposed fixed deposits, but it does not follow that that rate will be fixed. However, it will probably not be a. lesser rate than 4^ per cent. — the rate of- the Government's £2,000,000 Public Works loan, shortly to be raised in the Dominion. The deposits are to be amounts not less in any case than £50. Such deposits are to be lodged on the condition that they shall not be withdrawn within such period as may be agreed upon between the Postmaster-General and the depositor, being not lees than_twelyo months
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Bibliographic details
Evening Post, Volume XC, Issue 86, 9 October 1915, Page 6
Word Count
174SAVINGS BANK FIXED DEPOSITS Evening Post, Volume XC, Issue 86, 9 October 1915, Page 6
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