Interest Rate Unchanged For Variable Rate Ontario Savings Bonds
December 16, 2009 11:15 AM
Flexible And Secure Investment Option That Supports Ontario Priorities
The Ontario government announced today that the interest rate for the Variable-Rate Ontario Savings Bonds (OSBs) will remain at one per cent for the next six months.
The Variable-Rate Bond interest rates are reviewed and reset every six months according to prevailing market conditions. The rate, which is unchanged from one per cent in June 2009, applies to Variable-Rate Bonds purchased from 2003 to 2008. Another new rate will be set on June 21, 2010.
Variable-Rate Bonds are one of three OSB investment options that are available annually during the first three weeks of June. The Fixed-Rate and Step-Up Ontario Savings Bonds are unaffected by this interest rate change.
QUICK FACTS
- Ontario Savings Bonds are backed 100 per cent by the Province of Ontario.
- Only Ontario residents may purchase OSBs.
- OSBs can be purchased from banks, trust companies, credit unions, caisses populaires and through investment dealers, and are available in amounts of $100 up to $500,000 for small, medium and large investors.
CONTACTS
- For Media Inquiries only
Alicia Johnston - Minister's Office
416-325-3645
alicia.johnston@ontario.ca - For public inquiries call
1-800-337-7222
(Toll-free in Ontario only)
- For Media Inquiries only
Scott Blodgett - Ministry of Finance
416-325-0324
scott.blodgett@ontario.ca
ontario.ca/finance
"When Ontarians invest in Ontario Savings Bonds, they are helping build a stronger economy and supporting important initiatives like health care, infrastructure and education. OSBs are a safe and secure investment option that allows Ontarians to grow their money while investing in Ontario's future."
– Dwight Duncan
Minister of Finance
Communities
