✨ Public Trust Interest Rates
NEW ZEALAND GAZETTE, No. 83 — 30 JULY 2015
(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.
- Revocation of notice and transitional provisions—(1) The Public Trust Common Fund Interest Rates Notice 10 July 2015 is revoked.
(2) Unless otherwise specified, the rates of interest specified in Schedules 1 and 2 to this notice do not apply to any period that ends with 27 July 2015 but otherwise operate as from 28 July 2015.
(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 28 July 2015; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 28 July 2015.
Schedule 1
Rates of interest payable on deposits (other than investment deposits repayable at the end of fixed term or protection deposits)
| Deposit Type | % p.a. |
|---|---|
| Agency deposits | 1.20 |
| Call deposits | 1.20 |
| Funeral Trust Cash Fund | 1.20 |
| Investment deposits at call | 1.20 |
| Sinking funds deposits | 1.20 |
| Rating deposits | 1.20 |
| Trust deposits | 1.20 |
Schedule 2
Rates of interest payable on each protection deposit associated with a particular Private Training Establishment
| Deposit Type | % p.a. |
|---|---|
| All deposits | 2.60 |
Schedule 3
Rates of interest payable on investment deposits repayable at the end of a fixed term
Interest payable on maturity, monthly or quarterly
| Fixed Term | % p.a. |
|---|---|
| 3 months | 1.90 |
| 6 months | 1.85 |
| 9 months | 1.80 |
| 1 year | 1.75 |
| 18 months | 1.75 |
| 24 months | 1.75 |
| 30 months | 1.80 |
| 36 months | 1.85 |
| 4 years | 1.95 |
| 5 years | 2.05 |
Dated at Wellington this 28th day of July 2015.
MONIQUE TWORT, General Manager, Business Customers.
2015-go4470
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NZ Gazette 2015, No 83
✨ LLM interpretation of page content
🏢
The Public Trust Common Fund Interest Rates Notice 28 July 2015
(continued from previous page)
🏢 State Enterprises & Insurance28 July 2015
Interest Rates, Public Trust, Common Fund, Deposits, Schedules
- MONIQUE TWORT, General Manager, Business Customers