Public Trust is pleased to advise that its government guarantee on Term and On-call Account Deposits has been extended to include interest.
For a number of years now, principal of Term Deposits and On-call accounts invested in the Public Trust Common Fund has been guaranteed by the Government. The guarantee is provided under section 52 of the Public Trust Act 2001 and is not time-limited.
Now, the interest on Public Trust Term Deposits and On-call accounts is also guaranteed by the government, effective until 12 October 2010 and provided under section 65ZD of the Public Finance Act 1989. Both the capital and interest guarantees are unsecured.
Under the Crown Guarantee Deposit Scheme, deposits with certain financial institutions are also guaranteed by the Government. However, the guarantee of principal and interest of those deposits is effective until 12 October 2010.
Copies of Public Trust's Term Deposit Investment Statement and On-call Account information guides are available at any Public Trust Customer Centre or by contacting Public Trust on 0800 371 471.