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Show More interest given on bonds "The latest entension offered on the oldest Series E Savings Sav-ings Bonds at a full 3 and 3-quarter 3-quarter per cent annual interest inter-est rate is a boon to the thousands of people in this state who still hold bonds bought between May 1941 and May 1949," Federick P. Champ Volunteer Savings Bond Chairman Chair-man for Utah, said today. He referred to the recent announcement an-nouncement by the Treasury dealing with E bonds that begin be-gin to reach the end of their extended maturity in May of this year. The second 10-year extension was promised back in 1959, but the terms and interest in-terest rate were not announced at that time. Under the new ruling, these bonds will return 3 each year, compounded semi-annually, based on their current cash value (well over face value) . "All of these bonds bought between be-tween May 1941 and May 1949 originally drew 2.9 interest," Mr. Champ continued. "In their first extension, they have been earning from 2.90 to 3.47 per cent, if held to extended maturity. ma-turity. "Now these loyal bond owners own-ers who kept their E bonds for the full 20 years, will be rewarded with a full three and three quarter per cent return EACH year on the full current value of their bonds. This should encourage them to reap the benefits of this high rate for another full 10 years." |