Find out why and how you should redeem your bonds.
By December 2021, all Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) will reach maturity and stop earning interest and should be redeemed.
1. Find your certificate
Certificated CSBs and CPBs take the form of a physical paper bond certificate. The physical certificate is required to redeem the bond.
If you cannot locate your certificated CSBs or CPBs, follow the lost bond process.
There are different processes for redeeming CSBs or CPBs that do not have paper certificates because they were sold through an investment dealer or were purchased via the CSB Payroll Savings Program or The Canada RSP Plan.
2. Review your bond’s important features
Important information related to your bond is printed directly on the bond certificate.
- Certificate number: This is your bond's unique identifier. It may be used to make account changes.
- Series number: This number helps to identify the interest rate associated with your bond.
- Maturity date: By December 2021, all bonds will have reached maturity and stop earning interest and should be redeemed.
- Par value: This is the nominal value of your bond at the time of purchase.
- Interest type: If your bond earns compound interest, you will receive the value of the interest earned upon redemption. If your bond earns regular interest, you should receive regular interest payments up to your bond’s maturity date.
- Registered owner(s): The person who is entitled to the funds associated with the bond certificate. Bonds can be co-owned, with more than one name printed on the certificate.
3. Determine required signatures
The signatures of all registered owners are required to redeem bonds.
|
Ownership |
Signature(s) required |
|---|---|
|
Bonds with one owner |
Registered owner |
|
Co-owned bonds |
Both registered owners This process is in place to protect all parties where there are multiple registered owners. |
|
Bonds owned by a minor (someone under 18 years of age as proven by an official document such as a birth certificate) |
The parent or guardian who has legal custody of the bond owner. (If the minor is unable to sign his/her name). |
|
Bonds with one owner that were purchased by someone else |
Registered owner Whether adult or minor, only the registered owner, not the purchaser, has access to the funds. |
4. Visit your financial institution
Present the bond certificate where you bank or invest. All bond owners will be asked to sign the back of the bond upon presentation. CSBs and CPBs can be redeemed at any time.
If you own regular interest CSBs or CPBs (R bonds):
- You will receive the face value of your bond at the time you purchased it.
- If your regular interest bond has reached its maturity date, all earned interest payments would have been sent, by cheque or by direct deposit, on the anniversary date.
- If your regular interest bond has not reached maturity, you are still entitled to receive regular interest payments, until the maturity date has passed. If you redeem your regular interest bond prior to maturity you will no longer receive interest payments.
If you haven't received your regular interest payments, your information may be out of date. To find out, contact us.
If you own compound interest CSBs or CPBs (C bonds):
- If your compound interest bond has matured, you will receive the face value of your bond at the time you purchased it plus all the accumulated interest owed on that bond.
- If your compound interest CSB has not matured you will receive the face value at the time of purchase, plus accumulated interest earned up until the last month preceding the redemption.
- If your compound interest CPB has not matured, you will receive the face value at the time of purchase, plus accumulated interest earned up until the last anniversary date of issue.
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Content Type(s):
Services
Audience(s):
Bondholders