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Canada Savings Bonds (CSB) were first introduced in Canada in 1946, between the First and the Second World Wars. Originally named the War Savings Certificates or Victory War Bonds, these bonds were introduced to inculcate saving habits in the populace of the country and the funds collected from their sales were utilized to fund the war efforts by the Canadian government. The CSBs were officially launched as part of the Canadian government’s official financing program at that time and still serve as a safe means for investment and savings since each bond is guaranteed by the Government of Canada.
Through the passing of time the Canada Savings Bonds have proved to be quite a popular investment alternative due to their flexibility, safety and convenience. They are popular investment choices for both the young and old as their lowest denomination is $100 dollars and they can easily be purchased and redeemed. Many parents and grandparents purchase these bonds as gifts for their family as they provide a safe investment choice with good liquidity features in most cases.
While Canada Premium Bonds has a ten-year maturity term, interest rates are often announced for a shorter period and stay in effect for the declared duration. At the end of the stipulated period, refreshed rates based on the current market conditions are announced by the Canadian government and the Bank of Canada.
A comparison of CSBs and Canada Premium Bonds is as follows:
Features & Attributes |
Canada Savings Bonds |
Canada Premium Bonds |
Fully backed by the Government of Canada |
Yes |
Yes |
Guaranteed Rate of Return |
Yes |
Yes |
Availability with both Regular & Compound Paybacks |
Yes |
Yes |
No fees |
Yes |
Yes |
Cashable at any time |
Yes |
No |
Cashable once a year |
No |
Yes |
Convenient |
Yes |
Yes |
Affordable |
Yes |
Yes |
Both Canada Savings Bonds and Canada Premium Bonds are offered for sale by the government of Canada for 2 months, usually starting early October to 1st December. Both these bonds used to be extremely popular; however with the low interest rates, many investors have and are looking for alternative investment products.
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• Access to products from highly rated and secure financial institutions
• Professionally financial advice
• advice on how to minimize Canadian income tax and probate fees
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