News Update

2008 Ontario Savings Bonds higher rates announce

Bonds More Competitive – Same Flexible Purchase Options The Ontario government announced higher interest rates for the 2008 issue of Ontario Savings Bonds (OSBs) to keep pace with a changing investment market. The new rates are:

For the five-year Step-Up Bond – 2.6 per cent this year, 2.8 per cent in the second year, 3.0 per cent in the third year, 3.2 per cent in the fourth year and 4.0 per cent in the final year For the three-year Fixed-Rate Bond – 3.5 per cent For the seven-year Variable-Rate Bond – 3.0 per cent for the first six months.

The interest rate on Variable-Rate Bonds for the 2002 to 2007 Series was also reset at 3.0 per cent. This rate is effective from June 21 to December 20, 2008.

“We are honouring our commitment to issue Ontario Savings Bonds with competitive rates,” said Finance Minister Dwight Duncan. “Ontarians have come to depend on a reliable investment choice that gives them the satisfaction of investing in their own province and contributing to a better Ontario.”