GOOD NEWS FOR SAVINGS BANK DEPOSITORS.
Small depositors in the Post Office Savings Bank will be pleased to learn that the interest on deposits is to be raised. This matter was referred to by the Prime Minister in Taranaki recently and was mentioned by the Hon. R. Heation Rhodes, Postmaster-General, at Christchurch, on Saturday. The Minister said that in view of the present state of the mouey market, the Government has, after due consideration, decided to pay an increased rate of interest to Savings Bank depositors from the ist May next. The rate will be increased to per cent, on the balance held by any depositor not exceeding Over ,£3OO the present rate will apply. It is considered that those whose savings are entrusted to the Government through the Post Office Savings Bank and who are not able to invest their money in large sums with banking and other institutions, should-reap some benefit from the increased rates at present ruling, and it may fairly be claimed that 3% per cent, on money which is deposited at call is more liberal treatment than investors of small sums would receive elsewhere.
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https://paperspast.natlib.govt.nz/newspapers/MH19130408.2.7
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Manawatu Herald, Volume XXXV, Issue 1083, 8 April 1913, Page 2
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189GOOD NEWS FOR SAVINGS BANK DEPOSITORS. Manawatu Herald, Volume XXXV, Issue 1083, 8 April 1913, Page 2
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