HC Deb 02 May 1956 vol 552 cc51-2W
Mr. Oliver

asked the Chancellor of the Exchequer what interest is paid on National Saving Certificates not withdrawn after maturing.

Mr. H. Brooke

National Savings Certificates of all issues up to and including the 6th may be retained indefinitely, unless notice to the contrary is given by the Treasury, on the following terms:

1st and 2nd Issues—value at maturity (end of 10th year) £1 6s.; thereafter 1d. is added at the end of each complete month.

3rd and Conversion Issues—value at maturity (end of 22nd year) £1 13s.; thereafter 1d. is added at the end of each complete month.

4th Issue—value at maturity (end of 20th year) £1 9s.; thereafter 2½d. is added at the end of each completed period of three months.

5th Issue—value at maturity (end of 21st year) £1 9s.; thereafter 2½ is added at the end of each completed period of three months.

6th Issue—value at maturity (end of 10th year) £1; thereafter 3½.d. is added at the end of each completed period of six months until the end of 22nd year when the value is £1 7s.; thereafter 3d. is added at the end of each completed period of three months.

Extension terms so far announced for the 7th, £1 and 8th Issues are as follows:

7th Issue—value at maturity (end of 10th year) £1 Os. 6d.; thereafter 3½d. is added at the end of each completed period of 6 months until the end of 22nd year.

£l Issue—value at maturity (end of 10th year) £1 3s.; thereafter 1d. is added at the end of each completed period of three months until the end of 22nd year.

8th Issue—value at maturity (end of 10th year) 13s.; thereafter 1½d is added at the end of each completed period of three months until the end of 20th year.