Ontario Saving Bonds on sale with new rates: Province

Starting today, Ontario Savings Bonds (OSBs) are on sale until June 21, 2016.

OSBs are safe and flexible investment options, fully backed by the province, and start as low as $100, going up to $1 million. Available to all Ontarians, they offer the opportunity to start or expand investment portfolios while investing in the province and contributing to Ontario's growing economy.

These retail bonds offer the flexibility of annual or compound interest, with terms of three, five, and 10 years, and fixed, step-up or variable rates. Variable-Rate Bonds can be redeemed annually and Step-Up Bonds are redeemable semi-annually. Fixed-Rate Bonds are not redeemable until maturity.

The interest rates for the 2016 OSBs series are:
Five-year Step-Up Bond :
• 0.60 per cent this year
• 0.75 per cent in the second year
• 1.00 per cent in the third year
• 1.25 per cent in the fourth year
• 1.50 per cent in the fifth year