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 June 7, 2007
The interest rate for Series 16 Saskatchewan Savings Bonds (SSB) has been set at 4.2 per cent.
The bonds are available for purchase June 9-25 at local Credit Unions, chartered banks, trust companies, investment dealers and other authorized agents throughout Saskatchewan. During last year's campaign, Saskatchewan residents purchased $257 million worth of SSBs. The total amount of bonds held by people in this province is $326 million.
"Saskatchewan people look forward to this investment opportunity," Finance Minister Pat Atkinson said. "Our savings bonds are safe and secure and provide a fair interest rate for investors."
Each year, Saskatchewan Savings Bonds are available to residents of the province during a two-week window. The 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, $19 million in Series 11 bonds are maturing, with bondholders having the option of cashing in their bonds or reinvesting in Series 16. No interest is earned after July 15, 2007 on Series 11 bonds.
Interest rates for all unmatured series bonds (Series 12-15) will be increased to 4.2 per cent for the year ending July 15, 2008.
Anyone with questions about any series of SSBs can call 1-800-567-7077 or e-mail saskbond@finance.gov.sk.ca. More information is also available online by clicking on the Saskatchewan Savings Bond link at www.gov.sk.ca/finance. Bond application forms are available from that link, however, purchasers must still mail in a hard copy of their form with payment.
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For more information, contact:
Lorri Thacyk
Finance
Regina
Phone: 306-787-6605
Email: lthacyk@finance.gov.sk.ca
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