Released on April 26, 2005
Series 14 Saskatchewan Savings Bonds (SSBs) will be available for purchase June 10th – 25th."We are continuing with this popular program, 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 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 bond holder.
Series 14 bonds will be available at local credit unions, chartered banks, trust companies, investment dealers, and authorized agents throughout the province. The interest rate will be announced just prior to the actual sales period.
Series 9 SSBs are maturing this year on July 15th, 2005. No interest will be earned after this date. Bond holders have the option of either cashing in their bonds or reinvesting in Series 14 SSBs.
"Saskatchewan Savings Bonds have helped us reduce our out-of-province borrowing since they were introduced 13 years ago. All the interest paid on the bonds stays right here at home, in the hands of Saskatchewan people," Van Mulligen said.
During last year's campaign, Saskatchewan residents purchased $23 million worth of SSBs. The total amount of bonds held by people in this province is $712 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.
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For More Information, Contact:
| Lorri Thacyk Finance Regina Phone: (306) 787-6605 |