The National Treasury is pleased to announce that the RSA Government Retail Bond, which was launched in May this year, will be paying interest for the first time today, 30 September 2004.
The total payment amounts to R11, 682 million in interest. Half of this at R5, 8 million will be recapitalised in line with the choice of the investors. The interest paid is a pro rata share of the first six-months of interest payable, as Retail Bonds were first introduced on 24 May 2004. Interest is payable every six months. The total number of investors who will receive interest today is 8872.
All payments will be made electronically into the investors' bank accounts.
Considering that the RSA Retail Bond is at an infancy stage as an alternative investment opportunity, the instrument has definitely proved a popular and a viable investment opportunity.
Retail Bonds are indeed a "Smart Way To Save".