New Zealand Gazette – 2005 – No. 188

Page 4744

✨ Public Trust Interest Rates



4744

NEW ZEALAND GAZETTE, No. 188

3. Rates of Common Fund interest—(1) The rate of Common Fund interest on deposits (other than investment deposits repayable at the end of fixed term or protection deposits) shall be that specified in Schedule 1 for the appropriate type of deposits.

(2) The rate of Common Fund interest on each protection deposit associated with a particular private training establishment shall be that specified in Schedule 2 for the appropriate dollar range of the total of those deposits.

(3) The rate of Common Fund interest payable on investment deposits repayable at the end of a fixed term shall be that specified in Schedule 3 for the appropriate interest payment frequency, term and dollar range.

(4) Despite subparagraph (1), the rate of Common Fund interest payable on deposits made pursuant to an enactment shall be the rate (if any) specified in the enactment;

(5) Despite subparagraphs (1), (2) and (3), in particular cases or classes of case, Public Trust and the depositor may agree on a rate of interest payable on investment deposits, protection deposits or special deposits that is different from the rate specified in Schedules 1, 2, or 3 and the agreed rate then applies.

4. Revocation of notice and transitional provisions—

(1) The Public Trust Common Fund Interest Rates Notice 16 September 2005 is revoked.

(2) The rates of interest specified in Schedules 1 and 2 to this notice do not apply to any period that ends with 2 November 2005 but otherwise operate as from 3 November 2005.

(3) The rates of interest specified in Schedule 3 to this notice:

(i) do not apply to investment deposits repayable at the end of a fixed term that commenced prior to 3 November 2005; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 3 November 2005.

Schedule 1

Rates of interest payable on deposits (other than investment deposits repayable at the end of fixed term or protection deposits)

% p.a.
Agency deposits 5.00
Call deposits 2.75
Investment deposits at call 5.00
Special deposits (effective 15 September 2005) 6.81
Trust deposits 5.00

Schedule 2

Rates of interest payable on each protection deposit associated with a particular private training establishment

% p.a.
Total deposits do not exceed $350,000 5.00
Total deposits in range $350,001 to $1,750,000 5.40
Total deposits exceed $1,750,000 5.80

Schedule 3

Rates of interest payable on investment deposits repayable at the end of a fixed term

Interest payable on maturity

$5,000-$9,999 % p.a. $10,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
3 mths 5.00 5.55 5.80 5.95
6 mths 5.50 6.60 6.70 6.70
9 mths 5.50 6.65 6.70 6.70
1 yr 5.50 6.65 6.70 6.70
18 mths 6.00 6.35 6.45 6.50
24 mths 6.00 6.35 6.45 6.45
30 mths 6.00 6.35 6.45 6.45
36 mths 6.00 6.35 6.40 6.40
4 yrs 5.95 6.30 6.35 6.35
5 yrs 5.90 6.25 6.30 6.30

Interest payable monthly

$20,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
6 mths 6.51 6.61 6.61
9 mths 6.36 6.36 6.51
1 yr 6.31 6.31 6.36
18 mths 6.17 6.27 6.31
24 mths 6.17 6.27 6.27
30 mths 6.17 6.27 6.27
36 mths 6.17 6.22 6.22
4 yrs 6.13 6.17 6.17
5 yrs 6.08 6.13 6.13

Interest payable quarterly

$20,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
6 mths 6.55 6.64 6.64
9 mths 6.40 6.40 6.54
1 yr 6.35 6.35 6.39
18 mths 6.20 6.30 6.35
24 mths 6.20 6.30 6.30
30 mths 6.20 6.30 6.30
36 mths 6.20 6.25 6.25
4 yrs 6.16 6.20 6.20
5 yrs 6.11 6.16 6.16

Dated at Wellington this 3rd day of November 2005.

PAT WAITE, Chief Executive, Public Trust.

go7462



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 188


Gazette.govt.nz — PDF NZ Gazette 2005, No 188




✨ LLM interpretation of page content

🏢 Public Trust Common Fund Interest Rates Notice (continued from previous page)

🏢 State Enterprises & Insurance
3 November 2005
Public Trust, Interest Rates, Common Fund, Notice, Schedules
  • PAT WAITE, Chief Executive, Public Trust