Interest Rates

Treasury calculates and provides the interest rates that applies to credit and deficit balances outstanding on worktags designated “Interest Allocating”.

These rates are updated monthly. Average Rates for Interest Allocating Accounts as of August 2021.

  Costs of Borrowing Amounts on Deposit Capital Projects
04-Aug-2021 2.95% 0.0% 2.50%
11-Aug-2021 2.95% 0.0% 2.50%
18-Aug-2021 2.95% 0.0% 2.50%
25-Aug-2021 2.95% 0.0% 2.50%
Average 2.95% p.a. 0.0% p.a. 2.50% p.a.

 Reference to Prime Rate