Savings Banks (Deposit Limit)

HC Deb 03 March 1960 vol 618 c160W

Mr. Arbuthnot

asked the Chancellor of the Exchequer whether he will increase the limits on deposits in savings bank accounts.

Mr. Amory

I am proposing to increase from £3,000 to £5,000 the limit on the aggregate amount which anyone may deposit in the Post Office Savings Bank and in the Ordinary Department of a trustee savings bank. I also propose to suspend altogether the limit on the amount which may be deposited in or credited to a savings bank account in any one year. These changes will operate from 2nd May and a draft of the necessary Order will be laid before Parliament shortly.