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62+ Government Savings Bonds – Issue 2020

The Minister of Finance, Professor Edward Scicluna announced the fourth 62+ bond issue for elderly persons. The initial bond issue will amount to €60 million and may increase to €95 million to satisfy demand if necessary.

Individuals aged 62 and over may invest between a minimum of €500 and a maximum of €10,000. In keeping with previous issues, these bonds will earn a fixed rate of interest at 3% per annum for 5 years, maturing in 2025. The bonds will be paying the interest semi-annually and early repayment of principal is subject to a penalty equivalent to three months’ interest.

All individuals born during the year 1958 or before will be eligible to participate in this Savings Bond and shall be classified in two categories as follows:

  • New applicants
  • Existing holders of the 62+ Savings Bond issues

The existing holders of previous 62+ Savings Bond issues will be receiving an application form by mail, whereas new applicants can visit one of our investment centres by appointment to complete a new application form. Preference will be given to new applicants.

MeDirect Bank (Malta) plc is currently accepting applications for these bonds.

Before making your investment decision, you are requested to read the Prospectus of the new Bonds. For further information, please call us on (+356) 2557 4400 or send an email to customerservice@medirect.com.mt.

The information set forth in this article is only for informative purposes and should not be construed as an offer to sell or solicitation of an offer to subscribe for or purchase any investment. The information provided is subject to change without notice and does not constitute investment advice or any guarantee of returns. Please consider the terms and conditions governing the relevant investment prior to making any investment decision. Investors should note that at worst they may lose all of their invested principal in the event of default, insolvency and/or bankruptcy of the relevant issue. The financial instruments discussed may not be suitable for all investors and investors must make their own informed decisions and seek their own advice regarding the appropriateness of investing in financial instruments or implementing strategies discussed herein.

MeDirect Bank (Malta) plc has based this document on information obtained from sources it believes to be reliable but which have not been independently verified. MeDirect Bank (Malta) plc does not therefore provide any guarantees, representations or warranties. The value of any investment or income may go up as well as down and past performance is no guarantee of any future performance. When an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have an adverse effect on your investment.

MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371) and the Investment Services Act (Cap. 370). This material shall not be reproduced in any way, whether in whole or in part. Any unauthorised disclosure, use or dissemination, either in whole or in part, of the material contained within is strictly prohibited.

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We strive to ensure a streamlined account opening process, via a structured and clear set of requirements and personalised assistance during the initial communication stages. If you are interested in opening a corporate account with MeDirect, please complete an Account Opening Information Questionnaire and send it to corporate@medirect.com.mt.

For a comprehensive list of documentation required to open a corporate account please contact us by email at corporate@medirect.com.mt or by phone on (+356) 2557 4444.