Ottawa, October 1, 2012
2012-114
The Government of Canada today launched the 2012 Canada Savings Bonds Program sales campaign, which runs from October 1, 2012 until December 1, 2012.
This year’s campaign benefits from changes to Canada Savings Bonds and Canada Premium Bonds products announced in Economic Action Plan 2012 to ensure the program responds to the savings needs of Canadians and is sustainable well into the future.
Canada Premium Bonds will be available for sale through financial institutions and dealers. New this year, Canada Premium Bonds have been enhanced with a cashability feature allowing Canadians the flexibility to redeem their bonds throughout the year with interest earned up to the last anniversary date of purchase. This feature will provide Canadians with improved access to their savings. All outstanding Canada Premium Bonds will also benefit from this feature.
The term to maturity of all new Canada Premium Bonds issued is three years to help Canadians reassess their savings goals with greater ease and frequency.
Starting today, Canada Savings Bonds will be offered exclusively through the Payroll Savings Program. Over 10,500 employers across Canada participate in this program, enabling almost 1 million Canadians to save for their financial goals through payroll deductions.
The term to maturity of all new Canada Savings Bonds will also be three years.
Canada Premium Bond series P80 can be purchased from today until November 1, 2012 where you bank or invest, or by phone toll-free at 1-888-773-9999 (Monday to Friday, 8 a.m. to 8 p.m. Eastern Time). Canada Premium Bond series P81 will be on sale from November 2 to December 1, 2012, inclusively.
Canadians wishing to purchase Canada Savings Bond series S130 though the Payroll Savings Program may consult the Canada Savings Bonds website for further details.
The Minister of Finance reserves the right to terminate sales at any time.
Interest rates on Canada Premium Bonds and Canada Savings Bonds are guaranteed and may be increased if market conditions warrant.
To view the rates for Canada Premium Bond series P80 and Canada Savings Bond series S130, go to the Canada Savings Bonds website.
If you are interested in receiving more information on Canada Premium Bonds or Canada Savings Bonds, visit the Canada Savings Bonds website or subscribe to the automatic newsletter by clicking on the “E-Newsletter” link found on the website.
For further information, media may contact:
Jack Aubry
Media Relations
Department of Finance
613-996-8080
Jeremy Harrison
Bank of Canada
613-782-8782
