POST-OFFICE SAVINGS BANKS.
The following are the 'Regulations for the above Banks : — 1. Interest at the rate of 4 to ' 4\ per cent per annum is given on £200 and under ; at the rate of 3 to 4 per cent per annum on sums under £500 ; and in the samo proportion for any shorter time on every complete £1 deposited, provided that no interest be allowed on more than £500. 2. Depositors in. the Post-office Savings Banks have direct Government security for the prompt repayment of tlieir money. 3. A Depositor in any one of the Postoffice Banks may continue his deposit in any other of such Banks, and can withdraw his money at that Post-office Bank which is most convenient to Mm. 4. The strictest secrecy is observed with respect to the Names of the Depositors in Post-office Banks, and the amounts of their deposits. 5. Money may be deposited by or on behalf of minors. Depositors over seven years of age are treated as persons of full age, but minors under seven years of age cannot withdraw their deposits until they have reached the age of seven. 6. Applications to the Chief Offices in each Provinco on the business of Postoffice Savings Banks, and tho replies, sent thereto are free from charge or postage.
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Bibliographic details
Clutha Leader, Volume IV, Issue 207, 28 June 1878, Page 2
Word Count
216POST-OFFICE SAVINGS BANKS. Clutha Leader, Volume IV, Issue 207, 28 June 1878, Page 2
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