asked the Minister for Finance if he will consider lowering the minimum deposit amount of £500 to £200 in respect of the Agricultural Credit Corporation in order to encourage more investors in this very important Corporation.
Ceisteanna—Questions. Oral Answers. - Agricultural Credit Corporation Deposits.
11.
The acceptance by the Agricultural Credit Corporation of deposits of less than £500 would give rise to excessive administrative expense and would be unprofitable at the interest rates currently applicable. The five per cent Farm Credit Bonds, which may be bought from the Corporation in amounts of £10 or multiples thereof, constitute a suitable medium for the small investor. These Bonds earn 5 per cent interest plus a tax free capital bonus of £2 per cent if held for five years.