Wednesday, April 8, 2009

National Savings Bond on sale from April 14

The first batch of the planned RM5bil National Savings Bond where savers can receive a return of 5% per year will be offered for sale from April 14 to May 13, the Finance Ministry said in a statement yesterday.

The Islamic bonds, called Sukuk Simpanan Rakyat, will be launched on May 14 and Bank Negara will issue an initial RM2.5bil worth of bonds for the public to buy.

Each person above the age of 21 will be able to buy a maximum RM50,000 worth of Islamic bonds at any of the country’s commercial and Islamic banks, Bank Kerjasama Rakyat Malaysia Bhd, Bank Simpanan Nasional Bhd and Bank Pertanian Malaysia Bhd.

The minimum amount of bonds a person must buy is RM1,000.

The Islamic bonds will mature in three years. Individuals can, however, redeem their bonds anytime within the bond’s three-year tenure.

The allocation of the bonds to the public will be on a first come first served basis and successful applicants will be notified by the banks where their purchases are made.

Profit payments will be made on a quarterly basis through the sukuk holders’ accounts with their bank.


HL said...

a good bond ??

BH said...

Erm...if you are those type of people that likes to play safe, then it's good, since 5% is a lot more than 3.7% for FD :P

HL said...

hmm, thats true !!