The government has announced the issue of the second tranche of bonds for pensioners after the first issue was oversubscribed.
The Accountant General said the second issuance of up to a maximum of €30,000,000 of the 62+ Malta Government Savings Bond is being offered to individuals born in 1955 or before who did not participate in the September 2017 issuance; and applicants who applied for more than €5,000 in the first issuance and whose amounts were not allocated in full.
The 62+ Malta Government Savings Bond October 2017 Issue is being offered with similar terms and conditions to those of the September 2017 Issue. The bond earns interest at a fixed rate of 3% per annum for the duration of the bond until its maturity in the year 2022.
The bond, which will be issued at par in units of €100, cannot be negotiated, assigned or transferred onto any other individual, and cannot be pledged.
Interest is paid semi-annually in arrears on the 13th March and 13th September during the term of the bond.
Bondholders may withdraw the whole amount invested before the maturity date subject to a penalty equivalent to 3 months’ gross interest on the principal withdrawn at the interest rate the bond is earning.
The applications may be made for amounts up to a maximum of €10,000 and a minimum of €500.
Applications may be obtained from and lodged at all authorised financial institutions and other authorised investment service providers. Application Form A may also be downloaded from the Treasury’s website as from today.