Proincial Savings Bonds

ONTARIO SAVINGS BONDS

These bonds were introduced in 2001 and are available only to residents of Ontario. They are guaranteed by the Province of Ontario and are available from banks, investment dealers, trust companies, credit unions and caisses populaires.

Ontario Savings Bonds are available in three forms. There is a variable-rate bond that is a seven-year bond. Its interest rate is reset every six months. The step-up bond is a five-year bond that has an interest rate that increases every year until maturity. The fixed-rate bond is a three-year bond with an unchanging interest rate.

The fixed-rate bond can be redeemed only at maturity; the other two may be redeemed within 14 days after either June 21 or December 21.

MANITOBA SAVINGS BONDS

Residents of Manitoba can buy either Manitoba Hydro Bonds or Manitoba Builder Bonds. Both types of bonds are available with either a fixed interest rate or a floating interest rate.

Hydro Bonds are sold during the two-week period between the third week of May and first week of June. The minimum investment is $100.

Builder Bonds are redeemable on June 15th.

SASKATCHEWAN SAVINGS BONDS

Saskatchewan issues bonds with five-year terms during a two-week sales period each June. Interest is paid annually on July 15th. They are redeemable annually or upon death of the bondholder.

Alberta discontinued its savings bond program in 1997, and British Columbia followed suit in 2001.

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