HC Deb 07 July 1969 vol 786 cc208-9W
Mr. Marples

asked the Chancellor of the Exchequer if he will show in a table each change in the rates of interest paid on all forms of national savings including premium bonds, for which there is a fixed limit to the amount an individual can hold, during the period since June, 1959, indicating in each case the level of

TABLE OF CHANGES IN INTEREST RATES ON VARIOUS TYPES OF NATIONAL SAVINGS
Type of National Savings Date of introduction or change Interest rate Bank rate
Per cent. Per cent.
1960
Premium Savings Bonds 1963 … … … 1st August … 4½(1) 6
1963
4½ per cent. Defence Bonds 2nd Issue … … 25 March … 4½(2) 4
National Savings Certificates 11th Issue … … 13th May … £3 15s. 9d.(4) 4
1964
5 per cent. National Development Bonds … … 15th May … 5(3) 5
1966
National Savings Certificates 12th Issue … … 28th March … £4 11s. 3d.(5) 6
Post Office Investment Accounts (introduced) … 20th June … 5½ 6
5½ per cent. National Development Bonds … … 11th July … 5½(3) 6
1968
Post Office Investment Accounts … … … 1st January … 6 8
6 per cent. British Savings Bonds … … … 1st April … 6(3) 7½
Premium Savings Bonds … … … 1st September … 4⅝(1) 7½
Post Office Investment Accounts … … … 1st October … 6½ 7
1969
7 per cent. British Savings Bonds … … … 28th April … 7(3) 8
Notes:
(1) This figure represents the annual rate on eligible bonds at which monthly amounts are transferred into the prize funds for distribution in prizes.
(2) Repayable on maturity after 7 years at 102½ per cent.
(3) Repayable on maturity after 5 years at 102 per cent.
(4) If certificates held for 6 years.
(5) If certificates held for 5 years.