§ Mr. NottThe rate of interest on ordinary accounts in the National Savings Bank, in the ordinary department of the Trustee Savings Banks and in the No. 2 department of the Birmingham Municipal Bank will be increased to 4 per cent, per annum, from the present level of 3½ per cent., with effect from 1st January, 1973, in the case of the National Sayings Bank, from 21st November, 1972, in the case of the Trustee Savings Banks and from 1st January, 1973, in the case of the Birmingham Municipal Bank. The necessary orders are being laid today.
The rate of interest on investment accounts in the National Savings Bank will be increased from 7½ per cent. to 8 per cent, from 1st January, 1973, and the necessary notices in the London, Edinburgh and Belfast Gazettes will be published in due course. The National Debt Office will be willing to consider applications from individual trustee savings banks for increases in special investment department interest rates up to a limit of 8 per cent, to be operative on or after 21st November, 1972.