How to Redeem

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

Payroll Plan Owners

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 you are set up for Direct Deposit, or seven to ten business days if a cheque is mailed.
• Your most recent payroll contributions will be held for 15 days from the date the Bank of Canada receives your deduction from your employer.

Certificated Bond Purchasers & Registered Plan Holders

• CPBs
  Certificated Canada Premium Bonds can be cashed at any time at most financial institutions in Canada, with the interest being paid up until the last anniversary date of issue.

• CSBs
  Outstanding certificated Canada Savings Bond can be cashed at any time at most financial institutions in Canada. You will receive the full face value plus all applicable interest earned for each full month elapsed since the issue date.

• Canada RSP/RIF
  To redeem a CPB or CSB held within The Canada RSP or The Canada RIF, contact Customer Service by phone or contact the Trustee in writing.