asked the Minister for Finance if, in view of the general increase in bank interest rates, he will increase the rate applicable to saving certificates, national instalment and Post Office savings banks which are mainly utilised by the small investor.
Ceisteanna—Questions. Oral Answers. - Interest Rates.
32.
The rates of return to the investor and the conditions governing savings certificates, national instalment saving and the Post Office savings bank are kept under review in the light of changes in interest rates generally. As I announced in my budget statement, the rates of interest in the Post Office savings bank and the trustee savings banks were increased by 1 per cent in March. Also the maximum amounts which a person may invest in savings certificates and in the national instalment saving schemes were doubled. The effect of the recent increases in the associated banks' interest rates on small savings is being examined.