Interest Rates Announced for Ontario Savings Bonds
Ontario has published the interest rates for the 2014 series of Ontario Savings Bonds (OSBs), which are on sale today until June 21, 2014.
The five-year Step-Up Bond interest rates are:
- 1.25 per cent this year
- 1.50 per cent in the second year
- 2.00 per cent in the third year
- 2.25 per cent in the fourth year
- 2.50 per cent in the final year
The Fixed-Rate Bonds interest rates are:
- 1.35 per cent for the three-year Fixed-Rate Bond
- 3.10 per cent for the 10-year Fixed-Rate Bond
The three-year Variable-Rate Bond interest rate is 1.30 per cent for the first year.
The interest rate on the Variable-Rate Bonds is effective from June 21, 2014 to June 20, 2015 for series 2009 to 2014. The interest rate on the 2008 Variable-Rate Bond was also reset today at 1.30 per cent and is effective from June 21, 2014 to December 20, 2014.
- Both principal and interest are fully backed by the Province of Ontario.
- OSBs are available for small to large investors in amounts from $100 to $1 million.
- Only Ontario residents can purchase OSBs.
- OSBs are available through banks, trust companies, credit unions, caisses populaires and investment dealers.