QUÉBEC, May 1, 2020 /CNW Telbec/ - The Ministère des Finances du Québec is announcing that the sales campaign for the June 1, 2020 issue of Québec Savings Bonds will begin on Friday, May 1, 2020.
These 10-year bonds, redeemable at any time without penalty, will bear interest at 1.40% until May 31, 2021. Thereafter, the interest rate will be determined annually according to market conditions. They can be easily obtained through Épargne Placements Québec's transactional website.
The Ministère is also announcing that the rate on outstanding Québec Savings Bonds will be set at 1.40% as of June 1, 2020, with the exception of issues for which the annual interest rate is set higher.
It should be noted that savings and retirement products issued by the Québec government are offered by Épargne Placements Québec with no management or administration fees. They are safe, flexible and advantageous investment vehicles that allow Quebecers to grow their savings while contributing to Québec's development. Most of these products are eligible for an Investment Savings Account (non-registered account), or a TFSA, RRSP, RRIF, LIRA or LIF account. A 1% bonus in the first year also applies for new RRSP, RRIF, LIRA and LIF funds invested in bonds with a term of three years or more.
Registering online on the transactional website to purchase savings products is easy. You can also contact an investment officer at 1 800 463‑5229, Monday through Friday, 8 a.m. to 8 p.m.
For more information, you can visit Épargne Placements Québec's website at epq.gouv.qc.ca.
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