THE A.M.P SOCIETY.

Wairarapa Daily Times, Volume XV, Issue 4712, 7 May 1894, Page 2

THE A.M.P SOCIETY.

The Sydney Daily Telegraph has ' been informed that the'directors of ' the Australian Mutual Provident' Society have recently had under • oonsidejation theme of interest oharged to memlrJrlrWtiry society on lop on security of their policies, Hitherto the rate has been 7 per cent which does not seem excessive oon« sideringtbe .terras under whioh such advances have been made. Loans have been granted from £5 upwards without any legal or other and permission has been given toH repay eitherin whole or by at any time -at the option of the rower, It has been felt, howeveH that in cases where members entitled to borrow large sums a rate might be conceded, provided loans were taken for a fixed term arJiH subject to the usual condition oH mortgages on ml estate, and it WasH therefore resolved to grant sums &fl £2OO or more for a period of not leifl than two years at the per cent ,• provided not oases to be \ paid quarterly. It stilly remains optional, however, with I members to borrow to tbe higher J limit of 90 per oent. of the value, and retain the privilege of paying off at any time, either by instalments or in whole should they prefer to do 80, at the old rate of 7 per cent,