All Canada Savings Bonds and Canada Premium Bonds have attained maturity and are no longer earning interest as of December 2021. Locate your bond certificates and cash them in at your local bank or investment firm.
Is it still possible to purchase Canada Savings Bonds?
The Government of Canada declared in its most recent federal budget, presented on March 22, 2017, that the sale of Canada Savings Bonds (CSB) and Canada Premium Bonds (CPB) will end in November 2017.
On behalf of the Government of Canada, a formal notification was delivered to all Payroll Savings Plan owners and contributors from the Canada Savings Bonds Program.
Until October 2017, your CSB contributions will be taken from your monthly pension.
To learn more about what this announcement implies for bondholders, go to the Canada Savings Bonds Program’s website and look under “Questions and Answers.”
Is it still possible to purchase a savings bond at a bank?
Although the current 2.2 percent interest rate on Series I savings bonds is appealing, purchasing the bonds has grown more difficult. Paper Series I and EE savings bonds—those handy envelope stuffer gifts—can no longer be purchased in banks or credit unions; instead, you must purchase electronic bonds through TreasuryDirect, the Treasury Department’s Web-based system. Our correspondent discovered the procedure of purchasing a savings bond for her little nephew to be cumbersome. Here’s some assistance:
Is it still possible to purchase Ontario Savings Bonds?
Ontario Savings Bonds are no longer being sold by the government. Despite the fact that future sales will be halted,
All outstanding bonds are still secure and insured, and the Province will honor them until they are redeemed or matured.
Is it possible to lose money investing in Canada Savings Bonds?
All Canada Savings Bonds and Canada Premium Bonds have reached the end of their maturity period and are no longer earning interest. You must report your bonds as lost, stolen, or destroyed in order to redeem them. The lost bond process is only available for CSBs (Series 32 and higher) and CPBs issued in 1977 or after.
How do I purchase Canadian government bonds?
In Canada, you can buy bonds through your brokerage account or through a financial broker who will buy them directly from the issuing government or firm.
Are savings bonds a good investment?
Savings bonds are a fantastic way to diversify your retirement portfolio. However, due of government assurances, interest rates are often low. Over time, other assets, such as equities, outperform savings bonds.
When did Ontario Savings Bonds become obsolete?
The province of Ontario issues Ontario Savings Bonds (OSBs), which are bond securities. The province of Ontario backs the principal and interest of OSBs, which were first introduced in 2001. Financial institutions, credit unions, caisses populaires, and investment dealers all sell OSBs.
After 2018, the Government of Ontario stopped selling future Ontario savings bonds. All existing bonds will be honored in full.
Choose a CSB or CPB
CSBs and CPBs can be redeemed at any time. When you cash in a CPB, however, you only get interest until the bond’s last anniversary date. If you want greater freedom in getting your money out, CSBs may be a better option because they earn interest.
Decide where and how to buy
CPBs can be purchased in person, over the phone, or online from a financial institution or investment firm. You can pay with a check or a bank transfer. A payroll savings plan can be used to purchase CSBs (if your employer offers one).
Find out how to get your certificates
If you purchase your bonds from a financial institution, you may either pick up your certificates there or have them mailed to you. You won’t obtain a certificate if you buy your bonds through an investing firm or a workplace savings plan.