Savings bonds are readily cashable, but there are some rules. And the rules differ for Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs).
When you can cash in savings bonds
You'll always get back the original amount you invested, no matter when you cash in your bonds. The amount of interest you get depends on the type of bond you buy and when you cash it in:
You can cash in a CSB any time. But if you cash in a CSB within 3 months of buying it, you won’t get any interest. After 3 months, you'll get the interest earned to date.
You can cash in a CPB at any time. But you will only get interest earned up to the last anniversary date of the bond.
If you cash in a regular-interest bond, you'll get the interest earned since the last anniversary date.
If you cash in a compound-interest bond, you'll get the interest earned since the issue date of your bond.
How to cash in savings bonds
1. Savings bonds bought through a financial institution
You can cash in savings bonds at any time at most financial institutions.
Take your certificate to a financial institution, along with personal identification.
You can get your money back in cash or have it deposited into your bank account.
2. Savings bonds bought through a payroll savings plan
Access your online account with Canada Savings Bonds, or
Call the Employee Information Line for payroll savings plans, toll-free at 1-877-899-3599. Arrange for the money to go directly into your bank account.
3. Savings bonds held in a Canada RSP or Canada RIF
Call the Canada Savings Bonds Customer Service Centre toll-free at 1-800-575-5151 to cash in your bonds.
Learn more: Visit the Canada Savings Bonds website for more information on how to cash in your savings bonds.
Content in this section is provided in partnership with Investor Education Fund, a non-profit organization founded and supported by the Ontario Securities Commission that provides unbiased and independent financial tools to help Canadians make better money decisions. To find out more, go to: GetSmarterAboutMoney.ca