From June 1-21, you can buy Ontario Savings Bonds where you bank or invest. Bonds are considered to be safe and secure. In fact, the Province of Ontario backs both the principal investment and any interest you earn.
To best meet your investment needs, we offer three types of Ontario Savings Bonds. All are available with annual or compound interest.
- Fixed-Rate – Choose a term of three years or 10 years and keep the same competitive rate for the full term.
- Step-Up Rate – Competitive interest rate increases each year for its 5-year term.
- Variable-Rate – A new rate is set every year for three years.
OSBs can be purchased in person at banks, trust companies, participating credit unions, caisses populaires or by contacting an investment dealer. All matured bonds can be redeemed at any time after maturity. Bring your bonds to your financial institution, trust company, caisses populaires, credit union or contact your investment dealer. Step-Up Rate Bonds can be redeemed before their maturity date on June 21 and December 21. Variable-Rate Bonds can be redeemed on June 21 only.
All bondholders have up to 14 calendar days to redeem their bonds. Fixed-Rate bonds cannot be redeemed before their maturity date. – CINEWS