What are the terms of my new bonds?

We have issued Series B and Series I bonds.
Series B Bonds consists of 11 amortising strips with maturities of 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, and 15 years. The interest rate for these instruments will be 1% per year for the first three years; 2.5% for year 4; and 3.75% per year thereafter until maturity. Calculate your cashflow

Series I Bonds - consists of 15 amortising strips with maturities commencing 2020 and continuing annually with a final maturity in 2034. The interest rate for these instruments will be 0.25% per year. Calculate your cashflow

 Terms of series B & I bonds

How often will I receive interest?

You will receive interest   quarterly.

Can I receive payment by cheque?

No.   We will lodge all payments to your bank account.

How can I change my banking details?

Contact the Banking Department of the Central Bank of Barbados at 436-6870, if you wish to change your banking details

Will I be notified when the payment has been made?

Yes, you will receive an e-statement notifying you that payments have been made.

When will I get a certificate for my new securities?

The Central Bank is no longer issuing physical certificates for securities. Instead, you will receive an e-statement showing the total of your holdings.

Explain how this e-statement will work?

Holders of government securities will now have a securities account for which they will receive a periodic e-statement showing the total value of their holdings. The statement will include all relevant information about their holdings, including maturity dates.

Can I transfer my bonds to another holder?

Yes.  The relevant transfer forms must be completed. Complete this form and return it to the Banking Department, Central Bank of Barbados.

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