Investors will be notified by the National Treasury of any RSA Retail Savings Bonds that are due for maturity at least six weeks prior to the maturity date. The notification will only be forwarded to the investors’ correspondence address as stipulated in the application form, or to the latest change of correspondence address received by the National Treasury at the date of sending the said notification.
Investors in Inflation Linked Retail Savings bonds have the option to reinvest the amount due to them on maturity in any of the Fixed Rate Retail Savings Bonds, and vice versa.
Investors in Fixed Rate Retail Savings Bonds also have the option of reinvesting the amount due to them on maturity in any of the 2-year, 3-year or 5-year Fixed Rate Retail Savings Bonds at the prevailing interest rate, subject to the RSA Retail Savings Bonds still being in issue. Should investors wish to do so, they must return a completed “Option to Reinvest Form” to the National Treasury within 15 days of the maturity date. The prevailing interest rate on the first business day following the maturity date will apply to the reinvestment, and such date shall be the settlement date in respect of the reinvestment. The reinvestment will be subject to the terms and conditions of issue.
For Fixed Rate Retail Savings Bonds, should investors elect not to have the amount due to them reinvested for a further period, or should the National Treasury not receive the “Option to Reinvest Form” within the period stipulated above, the capital balance together with any interest payable at the maturity date will be paid to the investor via a direct deposit into the designated bank account. The capital balance will only be paid to the registered holder; investors may not give instructions to have the capital balance deposited into a third party’s bank account.
On maturity, should investors require that the amount due to them be paid into an account other than their designated bank account, they must complete the applicable section on the “Redemption Option Response Form”. Investors must include certified copies of their latest bank statements for security purposes. Note that these banking details will only apply to the relevant redemption payment, and will not apply to any other investments an investor may have. Failure to notify the National Treasury of any amended details or particulars shall result in the amount due to an investor being deposited into the designated bank account reflected in the application form, or the investors’ last instruction received by the National Treasury regarding a change in the designated bank account.