What is a Canada Savings Bond (CSB)?
A Canada Savings Bond (CSB) is a savings product that is issued and guaranteed by the Government of Canada. Consumers can buy a CSB between October 1 and April 1 each year by telephone or on-line, as well as at most financial institutions or through a payroll savings program (a deduction from your paycheque), which is available in some workplaces. You can cash in a CSB at any time, at no charge. However, if you cash in a Canada Savings Bond in the first three months after it is issued, you won’t earn any interest on it. Information on who can own CSBs, terms and conditions, interest rates, and how the interest is paid is available through Canada Investment and Savings (see resources below) or at financial institutions selling the bonds.
