62+ Malta Government Savings Bond – Issue 2020

July 8, 2020
|In Product News
|By Jesmond Mizzi Financial Advisors

As announced by the Minister for Finance and Financial Services on the 30th June 2020, the new fixed rate 62+ Malta Government Savings Bond – Issue 2020 shall open on Wednesday 15th July 2020.

 

This bond shall include the following main features:

  • rate of interest of 3% per annum fixed for five (5) years until the maturity of the bond in 2025;
  • every eligible individual can apply in his or her sole name for a minimum amount of €500 up to a maximum of €10,000;
  • interest is paid semi-annually in arrears;
  • the bond is not negotiable and cannot be transfered onto another individual; and
  • early repayment of principal is subject to a penalty equivalent to three months interest.

 

The amount on issue shall be €60,000,000 and may be increased by an additional maximum amount of €35,000,000, in the event of oversubscription.  The issue of the 62+ Malta Government Savings Bond of this year shall be open to all individuals born in the year 1958 or before.

 

Public Offer Period:

Applications shall open at 8:30 a.m. on Wednesday 15th July 2020 and close at 5:00 p.m. on Thursday 16th July 2020, or earlier at the discretion of the Accountant General. 

The full terms and conditions have been issued in the Prospectus. Please click here for a copy.

 

Applicable to:

All individuals born during the year 1958 or before who shall be classified in two categories i.e. Category A and Category B as follows:

 

  • New applicants (Category A) – [Form A] – click here. A copy of the applicant’s Identity card (both sides) is to be provided with this application Form; and

 

  • Existing holders of the 62+ MGSB (Category B) – [Form B]. The personalized application form is to be received by existing holders by ordinary post around the end of this week.  Any issues regarding the timely receipt of this application “B” should be notified to the Treasury on Tel. No.  2596-7125.

  

Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services business under the Investment Services Act by the MFSA. This has been prepared for information purposes only and does not constitute an investment advice. This shall not be regarded as an invitation to buy or sell any investment.  Past performance is not a guide to future performance and the value of the investment may go down as well as up.