Released on April 27, 2004
Series 13 Saskatchewan Savings Bonds (SSBs) will be available for purchase June 10th – 25th."Bonds will be available again this year, offering Saskatchewan people a safe, secure choice for investing," Finance Minister Harry Van Mulligen said. "Our interest rate will be competitive, and with a minimum purchase level of $100, the bonds are affordable for investors of all ages and income levels. We are pleased that the people of this province continue to support our bond program."
The savings bonds are fully guaranteed by the province and are available only to Saskatchewan residents. The interest rate will never drop below the initial rate, but it may increase depending on market conditions. Investors can redeem the bonds annually for the full amount, plus interest, with no penalty. The maximum purchase level is $200,000 per bondholder.
Series 13 bonds will be available at local credit unions, chartered banks, trust companies, investment dealers, and authorized agents throughout the province. Van Mulligen says he will announce the interest rate just prior to the actual sales period.
Series 8 SSBs are maturing this year. Holders have the option of either cashing in their bonds or reinvesting in Series 13 Bonds. Series 8 bonds mature July 15th, 2004. No interest will be earned after this date.
"This is truly a made-in-Saskatchewan investment that benefits the province," Van Mulligen said. "Saskatchewan Savings Bonds have helped us reduce our out-of-province borrowing since they were introduced 12 years ago. All the interest paid on the bonds stays right here at home, in the hands of Saskatchewan people."
During last year's campaign, Saskatchewan residents purchased more than $134 million worth of SSBs. The total amount of bonds held by people in this province is now just over $850 million.
Anyone with questions about any series of SSBs can call 1-800-667-4000 or e-mail saskbond@finance.gov.sk.ca. More information is also available by clicking on the Saskatchewan Savings Bond link at www.gov.sk.ca/finance.
-30-
For More Information, Contact:
| Debbie Clark Finance Regina Phone: (306)787-6605 |