Ottawa, October 4, 2010
Archived - Canada Savings Bonds and Canada Premium Bonds Rates Announced
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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
|Canada Premium Bond
|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.
(November 1, 1991)
(November 1, 1998)
(November 1, 2006)
(November 1, 1992)
(November 1, 1999)
(November 1, 2007)
(November 1, 1993)
(November 1, 2001)
| Series 114
(November 1, 2008)
(November 1, 1994)
(November 1, 2002)
| Series 120
(November 1, 2009)
(November 1, 1995)
(November 1, 2003)
(November 1, 1996)
(November 1, 2004)
(November 1, 1997)
(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…|
|November 1, 2001
November 1, 2002
|November 1, 2010 to October 31, 2011
November 1, 2010 to October 31, 2012
|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.
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.
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:
Office of the Minister of Finance
Bank of Canada
To receive e-mail notification of all news releases, please register at www.fin.gc.ca/scripts/register-eng.asp