Finance Ministry of Malaysia planned to launch the first batch 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. On May 15, another bond called called Sukuk Simpanan Rakyat will be launched and Bank Negara will issue an initial RM2.5bil worth of bonds for the public to buy.
Person with 21 years old and above is eligible to buy the bond with amount RM1,000 as the minimum and up to RM50,000 per person. The Islamic bond will mature in three years. You can buy the Islamic bond 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 allocation of bonds are first come first served basis and successful applicant will be notified by the bank where he/she purchase.
I think that at this economy downtime, it is good to save some money in bond fund instead of putting all money in saving account. The rate is much more higher that the interest rate in banks and slightly higher than the EPF’s.
Read more about the bond at:
