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POST OFFICE SAVINGS

DEPOSITS EXCEED WITHDRAWALS NEARLY £1,500,000 IN INTERESI A considerable excess of deposits over withdrawals in the Post Office Savings Bank for the year ended March 31, 1936, was disclosed by figures released by the Postmaster-general (Mr F. Jones) yesterday. He said that in the Post Office Savings Bank for the year ended March 31 last the excess of deposits over withdrawals amounted to £2,086,179. The interest credited to depositors was £1,400,459, and the balance at credit on March 31 was £52,916,352, an increase of £3,492,638 over the previous year. The number of accounts remaining open .was 840,671, and the average amount at credit approxi mately £63. For the months of Apri and May the deposits had exceeded the withdrawals by £295,000 and £328,000 re spectively. Asked if there was any pros pect of the Government authorising tin payment of a higher rate of interest on deposits in the Post Office and other sav ings banks, Mr Jones said that the matter had not been discussed by the Govern ment, but ho should say that any increase , was unlikely. !

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https://paperspast.natlib.govt.nz/newspapers/ODT19360619.2.129

Bibliographic details

Otago Daily Times, Issue 22911, 19 June 1936, Page 16

Word Count
181

POST OFFICE SAVINGS Otago Daily Times, Issue 22911, 19 June 1936, Page 16

POST OFFICE SAVINGS Otago Daily Times, Issue 22911, 19 June 1936, Page 16