BANK DEPOSITS
INTEREST RATES COMPARED. There is a good deal of difference between rates of interest on deposits paid by banks in Australia and by banks in New Zealand. The New -Zealand rates are lower than the Australian rates as the following table will show:— Aus- New tralia. Zealand, per cent, per cent. Six months 3 to 34 2 Twelve months 4 34 Two years and upwards 4J Two years The differences are explained by the fact that there arc large accumulations of deposits in this Dominion. “We have as much as we want,” a Christchurch banker said to a Lyttelton Times representative, “and we have no. need to pay the higher rates of interest paid in "Australia.”
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Southland Times, Issue 17734, 11 August 1917, Page 5
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118BANK DEPOSITS Southland Times, Issue 17734, 11 August 1917, Page 5
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