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2008 Ontario Savings Bonds Rates Announced

Archived News Release

2008 Ontario Savings Bonds Rates Announced

Bonds Offer Convenient, Flexible And Secure Investment Options For Ontarians

Ministry of Finance

The Ontario government announced competitive interest rates for the 2008 issue of Ontario Savings Bonds (OSBs), which go on sale today for the next three weeks.

  • The five-year Step-Up Bond interest rates are 2.40 per cent this year, 2.55 per cent in the second year, 2.70 per cent in the third year, 2.85 per cent in the fourth year and 3.70 per cent in the final year
  • The three-year Fixed-Rate Bond interest rate is 3.20 per cent
  • The seven-year Variable-Rate Bond rate is 2.55 per cent for the first six months
  • The interest rate on Variable-Rate Bonds for the 2002 to 2007 Series was also reset today at 2.55 per cent.  This rate is effective from June 21 to December 20, 2008.

This year, the 2001 Variable-Rate, 2003 Step-Up and the 2005 Fixed-Rate Bonds are maturing, and purchasers can extend their benefits by reinvesting in 2008 OSBs.

Quick Facts

  • Available only until June 20, OSBs are backed 100 per cent by the Province of Ontario and they are sold in amounts of $100 up to $500,000 for small, medium and large investors.
  • Only Ontario residents may purchase OSBs.
  • SBs can be purchased from banks, trust companies, credit unions, caisses populaires and through investment dealers.

Background Information

Additional Resources

Quotes

“When Ontarians invest in Ontario Savings Bonds, we are investing in our own province. OSBs offer a guaranteed return on investment, while helping build a stronger economy and a more prosperous Ontario.”

Dwight Duncan

Minister of Finance

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