What You Need to Know
- Canada Savings Bonds (CSBs) are no longer available for purchase as of November 2017. The bonds you own are safe, guaranteed and will continue to earn interest until maturity or redemption, whichever comes first. Refer to the Questions and Answers to find out more.
- If you are a Payroll Savings Plan owner, as bonds in your plan reach maturity they will automatically be paid out to you. Find out more.
- If you own a certificated CSB that has matured, it no longer earns interest and should be redeemed at your financial institution.
- All bond owners should validate their mailing address and/or banking information.
Regular Interest Bonds
Regular interest bonds accrue simple interest at the rates determined by the Minister of Finance until the earlier of maturity or redemption by the registered owner. Simple interest is accumulated monthly and is paid to the registered owner by cheque or through direct deposit on each annual anniversary date until maturity. You should ensure your mailing address is up-to-date to receive your annual interest payment by cheque. 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.
As interest payments are prepared and issued during the 11th and 12th months following the issue date and annual anniversary dates, if regular interest bonds are redeemed during these months, an amount equal to the interest earned since the last anniversary date will be deducted from the proceeds of redemption as that amount will be included in the registered owner’s annual interest payment.
Compound Interest Bonds
Compound interest bonds accrue, in addition to simple interest, compound interest at the rates determined by the Minister of Finance until the earlier of maturity or redemption by the registered owner. Accrued interest will be credited on each annual anniversary date for a particular series until maturity. At the time of maturity, you may redeem your bond where you bank or invest and will receive the full face value of the bond plus all interest earned.
See interest rates for unmatured and matured CSBs.
Services for CSB Owners
Find out about address and legal name changes, bond exchange and other services for CSB owners.