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RM5bil National Savings Bond

April 8, 2009 15:40 by Sze Hau 4 Comments

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:

The Star

Business Times

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Filed Under: life log Tagged With: bond

About Sze Hau

Geek. Love programming. Coffee addicted. Married with a child. Working towards financial freedom.

Comments

  1. spBlogger says

    April 9, 2009 14:32 at 2:32 pm

    It is definitely better than FD nowadays.

    Reply
  2. johnny ong says

    April 9, 2009 23:50 at 11:50 pm

    investing in this scheme is def better than the commercial bank’s fd deposit now

    Reply
  3. Calvyn says

    April 29, 2009 13:10 at 1:10 pm

    this is really better solution then putting money in FD.

    I need to prepare my self into this, since skip the ASW2020 last monday :(

    Reply
  4. szehau says

    May 5, 2009 02:23 at 2:23 am

    Ha.. other than the schemes, you can also put your money in blue chip stock or unit trust too but it is riskier

    Reply

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szehau’s weblog

szehau is a software programmer that has strong interest in the world of programming and Internet. He is graduated in University of Malaya, Malaysia with a Bachelor’s degree in Software Engineering. He draws on his passsion for web programming to share with others how to build a successful websites.

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