What You Need to Know
- The Canada Savings Bond (CSB) is a safe and secure savings product, fully guaranteed by the Government of Canada to help Canadians reach their savings goals.
- CSBs have a three-year term to maturity, with interest rates announced for one year and remaining in effect for that period. At the end of one year, new rates are announced by the Minister of Finance based on the prevailing market conditions. See Terms and Conditions.
The campaign for CSBs is from early October to 1 November.
How to Buy
CSBs are only available through the Payroll Savings Program to employees of Canadian organizations sponsoring the Program.
- If you currently contribute to a CSB through the Payroll Savings Program, or would like to enroll for the first time, you can find out more on the Employees page.
- Certificated Canada Savings Bonds can no longer be purchased at financial institutions, through dealers, or by phone.
How to Redeem
Payroll Savings Plan owners can redeem their CSBs at any time by accessing CSB Online Services. The last contribution amounts are held for 15 days from the date the deduction is received from the employer.
Access to Funds
- Up to 4 business days if you are set up for Direct Deposit.
- 7 to 10 business days if a cheque is mailed.
Joint Plans / Third-Party Plans
- If funds are held in a Joint Plan, a cheque will be issued in both Plan owners’ names, or funds can be deposited directly in a bank account that is held in both owners names.
- If funds are held in a Third-Party Plan, only the registered owner, not the contributor, has access to the funds.
Redeem Certificated CSBs
All certificated CSBs can be cashed at any time at most financial institutions in Canada. You will receive the full face value plus all applicable interest earned.
See interest rates for unmatured and matured CSBs.
- Maturing bonds purchased through the Payroll Savings Program are automatically rolled over into the next available series along with the accrued interest.
- Bonds purchased through financial institutions, dealers or by phone will earn interest up until the maturity date. After that date, no additional interest will be paid out.
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.
All CSBs purchased through the Payroll Savings Program are compound interest bonds and are automatically reinvested annually into the next available series. The Plan balance will continue to earn interest until all funds have been redeemed.
Services for CSB Owners
Find out about address and legal name changes, bond exchange and other services for CSB owners.
CSB Terms and Conditions
Canada Savings Bonds are subject to the Terms and Conditions approved by the Minister of Finance.