RURAL CREDITS
REDUCTION OP INTEREST AMPLE FUNDS AVAILABLE (Pur Press Association.) WELLINGTON, last night. The Premier annaunces that the Rural Intermediate Credit Board has decided to reduce from May 1 the rate of interest charged on loans made by it and the Cooperative Rural Intermediate Credit Association. The reduction was decided upon in response to the Government’s desire for a general reduction in interest rates with a view to assisting mortgagors. Tho Premier is particularly pleased that the board has met the Government’s wish, especially as it is evident that the board in doing so is making a 'considerable sacrifice financially. The reduction will apply to loans already in existence as well as loans granted after May 1. Tho Premier has ’been informed that the Commissioner of the Intermediate Board has adequate funds to meet all reasonable demands for fanners for the coming winter. Those who need finance and are able to satisfy the board’s requirements, should make early application to the nearest co-operative association or branch office.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18064, 15 April 1933, Page 3
Word Count
168RURAL CREDITS Poverty Bay Herald, Volume LX, Issue 18064, 15 April 1933, Page 3
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