McGuinty Government Announces Rates for 2007 Ontario Savings Bonds



    Bonds Contribute to a Stronger Economy

    TORONTO, June 1 /CNW/ - Finance Minister Greg Sorbara announced interest
rates for the 2007 issue of Ontario Savings Bonds (OSBs) that go on sale
today, calling them a dependable and competitive investment option for
Ontarians.
    "When people buy OSBs, they are investing in the prosperity of their
province," Sorbara said. "It's a reliable investment that strengthens our
economy and helps build a better quality of life in Ontario."
    The five-year Step-Up Bond interest rates are 3.90 per cent this year,
4.05 per cent in the second year, 4.15 per cent in the third year, 4.25 per
cent in the fourth year and 4.60 per cent in the final year. The three-year
Fixed-Rate Bond interest rate is 4.50 per cent, and the seven-year
Variable-Rate Bond rate is 4.10 per cent for the first six months.
    The interest rate for the next six months for the 2001-2006 Variable-Rate
Bonds was also set today at 4.10 per cent.
    This year, the 2000 Variable-Rate, 2002 Step-Up and the 2004 Fixed-Rate
Bonds are maturing and purchasers can extend their benefits by reinvesting in
2007 OSBs.
    OSBs are available at banks, trust companies, credit unions, caisses
populaires and through investment dealers.
    "Ontario Savings Bonds have become a popular investment option for
small-to-medium investors across the province," Sorbara said. "OSBs are a safe
investment that provide competitive rates and the flexibility to choose from
among three types of bonds."
    Available until June 21, OSBs are backed 100 per cent by the Government
of Ontario and they are sold in amounts from as low as $100 up to $500,000.

    Disponible en français

    
           For more information call 1-888-212-BOND (2663) or visit
                         www.ontariosavingsbonds.com
    






For further information:

For further information: Michael Arbour, Minister's Office, (416)
325-4138; Scott Blodgett, Communications Branch, (416) 325-0324

Organization Profile

Ontario Ministry of Finance

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890