What You Need to Know
The Canada Premium Bond (CPB) is a safe and secure savings product, fully guaranteed by the Government of Canada.
- In the 2017 Federal Budget, the Government of Canada has announced its decision to end the sale of Canada Premium Bonds (CPBs) as of 1 November.
- If you own a certificated CPB that has matured, it no longer earns interest and should be redeemed at a financial institution.
- Interest rates of all unmatured bonds can be found on csb.gc.ca/rates.
How to Redeem
- Certificated CPBs can be cashed at any time at most financial institutions in Canada.
- If CPBs are redeemed prior to the anniversary date of issue, interest earned from the last anniversary date up to the date of redemption will be forfeited, and only interest earned up to the last anniversary date of issue will be paid out.
Redeeming Bonds for Minors (under 18 years of age)
- A bond registered in the name of a minor, who is unable to sign his/her name, may be redeemed against the signature of a parent, guardian, or tutor who has legal custody of the bond owner.
- The birth certificate (or other proof of age document) of the bond owner will be needed as evidence of age. In the case of a person born and baptized in the province of Quebec, a certificate of baptism may be accepted as evidence of age.
See interest rates for unmatured and matured CPBs.
Regular Interest Bonds
- Interest is paid annually on the issue date until maturity or at redemption.
- If you would like to receive annual interest payments by Direct Deposit, you must complete the Change of Address and Direct Deposit (COADD) Form. This will replace payment instructions the owner has given the Bank of Canada for previously purchased regular interest bonds.
- Previously available in denominations of $300, $500, $1,000, $5,000, and $10,000.
Compound Interest Bonds
- Interest is automatically reinvested annually until your bonds are redeemed or mature.
- Previously available in denominations of $100, $300, $500, $1,000, $5,000, and $10,000.
Bonds that were purchased through financial institutions, investment dealers and by phone will earn interest up until the maturity date. After that date, no additional interest will be paid out and should be redeemed.
Declaring Interest Earned
All regular interest bond owners and, since 1990, owners of compound interest bonds (Series 45 and up) must declare the annual interest earned for amounts equal to 50$ or more. Please note that the Canada Revenue Agency does not require the issuance of T5s for amounts less than $50.
Services for CPB Owners
Find out about address and legal name changes, bond exchange and other services for CPB owners.