What You Need to Know
The Canada Premium Bond (CPB) is a safe and secure savings product issued and fully guaranteed by the Government of Canada and is the only product available for sale through financial institutions, investment dealers and Customer Service to Canadian citizens.
The sales campaign for CPBs is from 1 October to 1 December.
How to Buy
You can purchase a CPB as a gift for someone the same way you purchase a bond for yourself. There are two ways to buy:
- Through your financial institution or investment dealer
You can buy CPBs at most banks, credit unions, caisses populaires or trust companies across Canada, as well as through most full-service investment dealers and discount brokerage companies.
When purchasing a certificated CPB through your financial institution, you will be instructed by your FI to pick up your certificate at a later date. Only non-certificated CPB are available through investment dealers and discount brokerage companies.
- By phone
Monday to Friday, 8 a.m. to 8 p.m. (ET)
1 800 575-5151
905 754-2012 (Outside North America)
1 800 354-2222 (TTY – Teletypewriter only)
If you purchase a CPB by phone, your certificated CPB will be mailed to you within six to eight weeks following the issue date.
CPBs can be purchased for as little as $100. The maximum amount you can own per series is $500,000 per type of registration:
- Regular-interest bonds are available in denominations of $300, $500, $1,000, $5,000, and $10,000.
- Compound-interest bonds are available in denominations of $100, $300, $500, $1,000, $5,000, and $10,000.
How to Redeem
- Certificated CPBs can be cashed at any time at most financial institutions in Canada.
- Note that 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.
- See Terms and Conditions for more information.
Redeeming Bonds for Minors
- 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.
- Interest is paid annually on the issue date until maturity or at redemption.
- To receive annual interest payments you must enroll in direct deposit by completing Part 2 of the Certificated Canada Premium Bonds Application Form, or by providing banking information to the sales agent. This will replace payment instructions the owner has given the Bank of Canada for previously purchased regular-interest bonds.
- Available in denominations of $300, $500, $1,000, $5,000, and $10,000.
- Interest is automatically reinvested annually until your bonds are redeemed or mature.
- Available in denominations of $100, $300, $500, $1,000, $5,000, and $10,000.
Bonds purchased through financial institutions, investment dealers and by phone will earn interest up until the maturity date. After that date, no additional interest will be paid out.
Social Insurance Number
A social insurance number (SIN) is mandatory when purchasing a CPB. For minors who do not have a SIN, the date of birth will be mandatory. As well, direct deposit information is mandatory for regular-interest bond purchases.
Declaring Interest Earned
All regular-interest bond owners and, since 1990, owners of compound-interest bonds (Series 45 and up) must declare the annual interest earned for amounts equal to 50$ 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.
CPB Terms and Conditions
Canada Premium Bonds are subject to the Terms and Conditions approved by the Minister of Finance.