How to Redeem

Choose which type of bond owner you are before you redeem your CSB and CPB.

CSBs purchased through the Payroll Savings Program can be redeemed at any time by selecting CSB Online Services.

Funds will be deposited within four business days if set for Direct Deposit, or seven to ten business days if a cheque is mailed.
Partial redemptions are not allowed within the first three months of the issue date of the bond.
Interest is not paid out if a bond is redeemed within the first three months of the issue date of the bond.
Your most recent bond contributions will be held for 15 days from the date the Bank of Canada receives your deduction from your employer.

CSBs
A certificated Canada Savings Bond can be cashed at any time at most financial institutions in Canada.

If you cash your Canada Savings Bond within three months following the issue date, you will only receive the full face value of the bond. If you cash it after that date, you will receive the full face value plus all applicable interest earned for each full month elapsed since the issue date.
CPBs
A certificated Canada Premium Bond is redeemable, at most financial institutions in Canada, and can only be redeemed each year on the anniversary of the issue date and during the 30 days thereafter.

If CPBs are redeemed during the 30 days following the annual anniversary of the issue date, no interest will be earned for the period following the anniversary date.
Canada RSP/RIF
To redeem a CPB or CSB held within The Canada RSP or The Canada RIF, contact Customer Service for registered products or contact the Trustee in writing.

Redemption Value Tables