THE Barbados Savings Bond has been one of the best kept secrets in the country’s financial system.
That’s the word from Dr. Delisle Worrell, Governor of the Central Bank of Barbados.
To this end, he is suggesting that “every Barbadian should have savings bonds because everyone should have savings set aside to cover life’s contingencies”.
His comments came as the Bank relaunched the savings bonds with a $10 million issue, which will open for subscription on June 1, 2015. The issues will carry a rate of 5.5 per cent and will mature after five years. In addition, the maximum limit has been increased from $50 000 to $100 000 for individual purchases and benevolent organisations, as well as $200 000 for joint holders.
“There is no better vehicle for rainy day savings than the savings bonds,” Dr. Worrell said at a function, which was held at the Bank yesterday and attended by a nu...