Savings bond increased by another RM2.5bil

KUALA LUMPUR: The Finance Ministry has increased the amount of Sukuk Simpanan Rakyat because of the overwhelming public response.

The ministry added another RM2.5bil to the savings bond using the allocation of the second batch.

The first batch of the RM2.5bil Islamic bond was fully subscribed two days after it was opened for sale on Tuesday.

The bond is part of the Government’s RM60bil stimulus package providing a return of 5% per year, double the current fixed deposit rates. It is opened for Malaysians aged 21 and above.

The bonds – with a minimum allocation of RM1,000 and maximum RM50,000 – has a maturity period of three years but account holders can withdraw their money at any time.

Applications can be made at any commercial banks in the country, on a first-come-first-served basis, until May 13.

For details, call Bank Negara at 1300-88-5465 or visit www.treasury.gov.my and www.bnm.gov.my/sukuksimpanan.