Heavy National Savings Deposits

Northern Advocate, 14 June 1947, Page 4

Heavy National Savings Deposits

National Savings investments in Whangarei last week amounted to £27ou/16/-, exceeding the weekly quota of £724 bv £1975/16/-. Broadwood, Paparoa and Waipu have passed their year’s quotas, ending March 31, 1948, in less than three months. The reason for this heavy depositing was explained by a Whangarei post office official. He said that many people were investing now because of the short period before their savings reached maturity—money invest'ed up to June 30. 1947, is repayable during the withdrawal months of I July, August and September, 1949. ! During those three months tills year, the whole or any portion of money which was invested before June ,30, 1945, may be withdrawn or transferred to a post office savings bank account or to a trustees savings bank account. All or part of the money may be left where it is and will remain invested at 3 per cent and be due for repayment j a year later. Any of these options, or a comblna- | tion of them, may be exercised at any j time within three months of the savings becoming due.