INTEREST REDUCTION
AUSTRALIAN ACTION DEPOSITS & OVERDRAFTS SYDNEY, Oct. 11. The Commonwealth Bank announces a further reduction in interest of I per cent 'per annum on fixed deposits for six, 12 or 24 months. Overdraft rates on current account are being reduced from November 1 to a maximum of 4| per cent. The Bank of New .South Wales and the Commercial Bank of Sydney are falling into line as regards fixed deposits, and the new rates take effect from to-day.
ACTION IN CANADA DEPOSIT RATE 2 PER CENT (Received (let. 12, noon) OTTAWA, Oet. 11. The Minister of Finance, Mr. Rhodes, to-day announced that interest rates paid on savings deposited by all Canadian chartered banks,, the Dominion Government Post Office Savings Banks and the Province of Ontario Government'Savings Office will be reduced from 2), to 2 per cent., the reduction to be effective from November 1.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18526, 12 October 1934, Page 5
Word Count
145INTEREST REDUCTION Poverty Bay Herald, Volume LXI, Issue 18526, 12 October 1934, Page 5
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