Unnumbered Page Advertisement 1

New Zealand Listener, Volume 37, Issue 937, 26 July 1957, Unnumbered Page

Save for a home of your own through a Post Office HOME LAY-BY ACCOUNT E5 FREE DEPOSIT FOR EVERY E100 YOu SAVE The Post Office Savings Bank has pleasure in introducing Home Lay-by Accounts for those saving for a home of their owna When you open a Home Lay-by Account and you can do it right now_ your savings qualify for the normal Post Office Savings Bank rate of interest (39 ) plus & free deposit of 85 for every 8100 yoU save: The maximum sum which qualifies for a free deposit is 81000- The free deposit on this is 850. The shortest period in which the maximum free deposit can be earned is four years-_representing deposits of 8250 & year: 0 2 E5 A WEEK SAVED FOR FOUR YEARS GROWS To E1110 To take some general examples: If you deposit 85 a week for four years (8250 a year) your money will have grown to S1110. This is made up of your f1000 deposits, 860 interest and 850 free deposits. If you save your f1000 in five years (at 84 a week ) , it earns nearly 877 in interest and 850 as a free deposit ~-a total of 81126. Home Savings 0f, say, 8400 in four years (82 a week ) would have Lay-by a withdrawal value, including 820 free deposits, of approxi- Account mately 8444. Book The free deposits will be paid only on money which is spent on buying a home, or & section on which your home will be built: If a man and his fiancee save separately for a home of their own, both Home Lay-by Accounts may qualify for the maxi- mum free deposits, even though only one house is to be built. These examples are based on 50 deposits each Yeat. ASK AT YOUR LOCAL POST OFFICE FOR A LEAFLET IN WHICH THE HOME LAY-BY ACCOUNT IS FULLY EXPLAINED Issued by the New Zealand Savings Committee