THE FIRST THRIFT CONFEREaCE 



47 



C) Basis 7 1/2 %• 



The bank begins to pay the income six months after the deposit has 

 been made. It is, Hke the savings bond, non-transferable and exempt by 

 law from seizure. 



An annuity bond can be bought so that the purchaser receives the 

 income after a period of five, ten, fifteen, twenty or twenty-five years, 

 instead of during one of these periods. The sum deposited of course varies 

 considerably in each case, for it depends on the number of years which 

 have to run before the bank has to begin to pa}* the rent and the number 

 for which it is payable. The following table shows these variations : 



