Saskatchewan Savings Bonds Instalment Plan

If Series 17 bonds were purchased using the instalment plan, 10 equal monthly payments will be charged directly to the purchaser's bank account on the 15th of each month.  The first payment will occur August 15, 2008, and the final payment will occur on May 15, 2009.  Where the 15th falls on a weekend or statutory holiday, the funds are withdrawn on the first business day following the 15th.

Each payment is a combination of principal and interest, with the interest rate being equal to the interest rate on the bonds.  The interest component of the payment is tax deductible.  In February, purchasers receive a statement which shows the amount of interest they have paid.

Bonds are sent to the purchaser's financial institution in late May or early June, following the final instalment.