2008 Ontario Savings Bonds
Over the years, the people of Ontario have come to know the Ontario Savings Bonds (OSBs), as a safe and secure annual investment that is backed 100 per cent by the Province of Ontario. From June 2 to June 20, OSBs are available from financial institutions, credit unions, caisses populaires or investment dealers.
Compared with GICs and term deposits, OSBs offer competitive interest rates and can be placed into a self-directed Registered Savings Plan. Available in amounts from $100 to $500,000, OSBs are designed to appeal to all types of investors. In addition, OSBs can be redeemed in as early as six months.
OSBs have been on sale annually since 1995. Many Ontarians have chosen this safe, flexible and competitive investment option that keeps their money at home in the province where they live, work and raise their families. To date, about $26 billion in OSBs have been sold.
TYPES OF BONDS
There are three OSB options available for investors to choose from:
- A three-year Fixed Rate Bond with the same rate until maturity
- A five-year Step-Up Bond with an interest rate that escalates every year
- A seven-year Variable-Rate Bond with an interest rate that is re-set every six months until maturity.
The Variable and Step-Up bonds can be redeemed every six months.