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Wednesday, 10 June 1970

Terminating societies:

Changes in interest rates charged by ter minating building societies are set out below: Commonwealth Financed Societies (20 societies)

To 31.12.60-5%

From 1.1.61-5¼%

From 1 1.4.63- 4¾%

Note: No Government financed societies have been formed since 1963.

Bank Financed Societies (7 societies financed by 4 banks)

(i)   1959-60-5%

From 1.3.61-5¼%

From11.4.63- 4¾%

From 27.4.64-5%

From 1.4.65-5¼%

From 1.8.68-5½%

From1.8.69- 5¾%

From 9.3.70-6¼%

(ii)   1960-5%

From 1.3.61-5¼%

From 1.4.65- 5½%

From 1.8.68-6%

From 1.4.70-6¾%

(iii)   1960-5%

From 1.3.61 - 5¼%

From 11.4.63-4¾%

From 1.4.65-5%

From 1.8.68- 5½%

From 1.4.70-6¼%

(iv)   1963 - 5½%

From 1.8.68-6%

From 1.4.70-6¾%

In addition societies make an administrative charge of 3.3 cents per $100 share per month.

Permanent societies:

Permanent societies in the Australian Capital Territory have charged interest rates from 5¼% to 9½% depending on the society and the source of the funds from which each loan has been made.

First mortgage Commonwealth funds have been loaned by societies at interest rates shown below:

1963-5¼%

1.4.68-5½%

1.11.68-6%

5.5.70-6¾%

Increases in interest rates applied only to new loans.







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