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2008 Ontario Savings Bonds higher rates
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.” | 