Page 23 Advertisement 2

New Zealand Listener, Volume 37, Issue 950, 25 October 1957, Page 23

Save for 0 home of Your Own through 0 Post Office Home Lay-By Account 85 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 own_ 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 a free deposit of {5 for every F1oo you save_ The maximum sum which qualifies for a free deposit is E1ooo. The free deposit on this is E5o. The shortest period in which the maximum free deposit can be earned is four years ~~representing deposits of {250 a year: 85 A WEEK SAVED FOR FOUR YEARS GROWS To E1110 To take some general examples:* If you deposit L5 a week for four 3 years (L250 ` a year) your money will 0 have grown to LII1o. This is made up of 5 your f10oo deposits, E60 interest and E5o free deposits: If you save your L1ooo in five years (at L4 a week), it earns nearly E77 in interest and L5o as a free deposit--a total of L1126. Savings of, say, L400 in four years (f2 a week) would have a withdrawal value, including L20 free deposits, of approxi- mately L444. The free deposits will be paid only on money which is spent on buying a home, or a section on which your home will be built: If a man and his fiancee save separately for a home of their Home OWn, both Home Lay- by Accounts may qual- Lay-by ify for the maximum free deposits, even Aecount Book though only one house is to be built: These examples are based on 50 deposits each year: Ask at your local Post Office for a leaflet in which the Home Lay-by Account is fully ex- blained: Issued by the New Zealand Savingf Committee 12.L.42