SAVINGS BANK RATE
DEPOSITS UP TO £2OOO.
ABOLITION OF EXEMPTIONS. * The payment of interest on more than the first £2OOO of certain Post Office Savings Bank deposits has been discontinued as from March 1, under the authority of a Treasury, notice published in the latest Gazette. Up to April 1, 1933, interest was allowed on all deposits not exceeding £5OOO, with provision for payment of interest on old deposits (antedating April 1, 1928) in excess of £5OOO. Further provision was made for trustee savings banks, registered friendly societies, incorporated industrial and provident societies and other approved non-mercantile organisations do be exempt from the £5OOO limitation. As from August 1, 1933, the normal interest-bearing limit was lowered from £5OOO to £2OOO, the special provisions applying to deposits above the latter amount. Both provisions have now been abolished.
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https://paperspast.natlib.govt.nz/newspapers/TDN19350305.2.30
Bibliographic details
Taranaki Daily News, 5 March 1935, Page 5
Word Count
136SAVINGS BANK RATE Taranaki Daily News, 5 March 1935, Page 5
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