News Release - June 5, 2009
NEW SASKATCHEWAN SAVINGS BONDS EARN 1.0 PER CENT
The interest rate for Series 18 Saskatchewan Savings Bonds (SSB) has been set at 1.0 per cent.
Bonds are available for purchase June 6-25 at local Credit Unions, chartered banks, trust companies, investment dealers and other authorized agents throughout Saskatchewan. Provincial residents currently hold $247 million in SSBs.
"Savings bonds are safe and secure and provide a fair interest rate for investors," Finance Minister Rod Gantefoer said.
Each year, Saskatchewan Savings Bonds are available to residents of the province for a period of two-three weeks. Bonds can be purchased in denominations ranging from $100 to a maximum of $200,000. Investors also have the option of choosing an instalment purchase plan for purchases up to $2,500. A popular feature of the bonds is that they are redeemable annually, without penalty, for the full amount plus interest.
This year, $4 million in Series 13 bonds are maturing, with bondholders having the option of cashing in their bonds or reinvesting in Series 18. No interest is earned after July 15, 2009, on Series 13 bonds.
Interest rates on unmatured series of bonds (Series 14-17) will vary for the year ending July 15, 2009. The interest rate on Series 14 and 17 bonds will be 2.5 per cent, while Series 15 and 16 bonds will pay 4.0 per cent and 4.2 per cent respectively.
Anyone with questions about any series of SSBs can call 1-800-567-7077 or e-mail email@example.com. More information is also available online by clicking on the Saskatchewan Savings Bond link at www.finance.gov.sk.ca/ssb.
Bond application forms will be available from that link, however, purchasers must still mail in a hard copy of their form with payment.
For more information, contact: