Trusteebank announces new interest rates
Trusteebank Wanganui General Manager, Harvey Carvell announced today increased mortgage interest
rates that will apply only to new mortgages approved. Home Ownership account holders (who receive preferential mortgage assistance
trom the bank) and who qualify for the benefits under the Home Ownership Savings Scheme will now pay 1 3% per annum interest. New long term residential mortgages will now be at 1 3.5% interest (under $30,000) and 14% interest (over $30,000) and residential second mortgages would be at 16% per annum. Farming and Commercial loans would be advanced at between 17% and 18% interest per annum. Interest rates on existing mortgages will at the moment remain unchanged. Also announced was a further increase of one percent on the bank's HIT account rate announced last week. The top rate on this account will now be 10% per annum. The 30, 60 and 90 day rates have also increased by up to one percent. This has been necessary to ensure that the bank's depositors are ensured a positive return on their investments.
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https://paperspast.natlib.govt.nz/newspapers/WAIBUL19840807.2.41
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Waimarino Bulletin, Volume 2, Issue 10, 7 August 1984, Page 12
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175Trusteebank announces new interest rates Waimarino Bulletin, Volume 2, Issue 10, 7 August 1984, Page 12
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