Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on April 26, 2007
Series 16 Saskatchewan Savings Bonds (SSBs) will be available for purchase June 9–25.
“We are continuing this popular investment program with a competitive interest rate that offers a safe and secure choice for Saskatchewan people,” Finance Minister Andrew Thomson said. “Bonds are affordable for all investors regardless of age or income, with a minimum purchase level of $100.”
Savings bonds are guaranteed by the province and are available only to Saskatchewan residents. The interest rate will never drop below the initial rate, but 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 16 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 June sales period.
Series 11 SSBs are maturing July 15th, 2007. No interest will be earned after this date. Bond holders have the option of either cashing in their bonds or reinvesting in Series 16 SSBs.
“Since they were introduced 15 years ago, Saskatchewan Savings Bonds have proven to benefit both the Province and its residents by reducing our out-of-province borrowing and ensuring all interest paid on the bonds stays right here,” Thomson said.
During last year’s campaign, Saskatchewan residents purchased over $256 million in SSBs. Provincial residents currently hold $326.8 million in SSBs.
Anyone with questions about any series of SSBs can call 1-800-667-4000 or e-mail ssbinquiries@gov.sk.ca. More information is also available online by clicking on the Saskatchewan Savings Bond link at www.gov.sk.ca/finance.
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For more information, contact:
Media Relations
Finance
Regina
Email: Financecommunicationsfi@gov.sk.ca
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