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Ottawa, October 4, 2010
2010-090

Archived - Canada Savings Bonds and Canada Premium Bonds Rates Announced

Archived information

Archived information is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.

The Department of Finance today announced interest rates for Canada Savings Bond (CSB) Series 126 and Canada Premium Bond (CPB) Series 76, which will be on sale October 4, 2010 until November 1, 2010, inclusively.

For a $1,000 bond, CSB Series 126 and CPB Series 76, with 10-year terms to maturity, will carry interest rates as follows:

  Canada Savings Bond
Series 126
Canada Premium Bond
Series 76
 

Interest rates for year beginning Annual interest rate Average annual rate of return if held to November 1 of the following year Annual interest rate Average annual compound rate of return if held to November 1 of the following year
Nov. 1, 2010 0.65% 0.65% 1.10% 1.10%
Nov. 1, 2011 TBA TBA 1.40% 1.24%
Nov. 1, 2012 TBA TBA 1.70% 1.39%

CSB Series 126 and CPB Series 76 are available for purchase online at csb.gc.ca, by phone toll-free at 1-888-773-9999 (Monday to Friday, 8 a.m. to 8 p.m. Eastern Time), or wherever Canadians bank or invest in Canada. CSB Series 126 is also available to employees of approximately 12,000 employers across Canada through the Payroll Savings Program.

About the Rates

The CSB interest rate, posted for a one-year period, is guaranteed and may be increased during this period if market conditions warrant. CSBs can be cashed at any time.

The CPB interest rates, posted for years one through three, are guaranteed and may be increased up until the issue date if market conditions warrant. Once the issue date has passed, no changes to the posted interest rates will be made. The CPB is redeemable once a year on the anniversary of the issue date and during the 30 days thereafter.

Canadians should be aware that while the CSB and the CPB have a 10-year term to maturity, interest rates are typically announced for a shorter period and remain in effect for that announced period. At the end of that period, new rates will be announced by the Minister of Finance based on prevailing market conditions.

Outstanding Series Repriced

The outstanding CSB Series listed below will carry the same rate as that announced for CSB Series 126 for the bond year November 1, 2010 to October 31, 2011.

Series 46
(November 1, 1991)
Series 54
(November 1, 1998)
Series 102
(November 1, 2006)
Series 47
(November 1, 1992)
Series 60
(November 1, 1999)
Series 108
(November 1, 2007)
Series 48
(November 1, 1993)
Series 72
(November 1, 2001)
 Series 114
(November 1, 2008)
Series 49
(November 1, 1994)
Series 78
(November 1, 2002)
 Series 120
(November 1, 2009)
Series 50
(November 1, 1995)
Series 84
(November 1, 2003)
 
Series 51
(November 1, 1996)
Series 90
(November 1, 2004)
 
Series 52
(November 1, 1997)
Series 96
(November 1, 2005)
 

The outstanding CPB Series listed below will carry the same rates as those announced for CPB Series 76 for the bond years indicated.

Series Issuance date Carries Series 76 rates from…
Series 21
Series 27
November 1, 2001
November 1, 2002
November 1, 2010 to October 31, 2011
November 1, 2010 to October 31, 2012
Series 40
Series 58
November 1, 2004
November 1, 2007
November 1, 2010 to October 31, 2013
November 1, 2010 to October 31, 2013

Further details on the terms and conditions of the CSB and CPB are available at www.csb.gc.ca.

Matured Series

The Department of Finance also announced that CSB Series S66 (November 1, 2000) and CPB Series P15 (November 1, 2000) are maturing on November 1, 2010.

Sales Period

The campaign period runs from early October to December 1. The next available series for CSBs and CPBs will be the December 1, 2010 Series, expected to be on sale from November 2 to December 1, 2010, inclusively. As in the past, the Minister of Finance reserves the right to terminate sales at any time.

Persons interested in receiving interest rate information for the CSB and the CPB may enquire at financial institutions, visit csb.gc.ca, call toll-free at 1-800-575-5151, or subscribe to an automatic email notification service through the "E-Newsletter Sign Up" link found on the main page of the csb.gc.ca website. Those who already subscribe to the e-newsletter service are not required to re-register to receive these automatic notifications.

____________________________________
For further information, media may contact:

Annette Robertson
Press Secretary
Office of the Minister of Finance
613-996-7861

Jeremy Harrison
Bank of Canada
613-782-8782

To receive e-mail notification of all news releases, please register at www.fin.gc.ca/scripts/register-eng.asp