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How can I make savings bonds work better for me?

There are ways to invest and track your savings bonds to make them work better for you. Here are two common options:

1.  Make a lump-sum purchase of savings bonds

You can buy savings bonds when you get some extra money, perhaps from a bonus at work or a tax refund.  Or, set a target in your household budget for how much you want to invest in savings bonds. You buy the bond once you have saved up enough. 

Tips:                                                                                              
  • Don’t miss the deadline for buying savings bonds. They are on sale for only part of the year (early October until April 1). Ask at your bank or check for the sales dates on the Canada Savings Bond website.
  • Review all of your investments when you buy your savings bonds. It’s a good time to look at your progress and get advice if you need it.
  • Set yearly goals for buying savings bonds and stick to them. If you leave money too long in your bank account, you may spend it on other things. Make sure that you have a plan, or you won’t reach your investment goals.

2.  Buy savings bonds through payroll savings plans

With this option, your company holds a certain amount from your pay to buy your savings bonds. When you have enough saved, the money will go to buy savings bonds. This can be a great way to save if you are one of those people who has trouble saving. Since the money goes into the account automatically, you aren’t tempted to spend it. And, if you buy bonds through regular payments over the year, you could earn more interest than if you put in a lump sum once a year.

Tip: Stay involved in your investments. If the money is going into your savings bonds automatically, you may not give your investments the regular attention they need. Set times to review your investments during the year.

Remember: You can buy savings bonds only at certain times of the year.

If the time is not right to buy savings bonds, here's an alternative: Invest in short-term Guaranteed Investment Certificates (GICs). You can buy GICs that will mature in as little as 30 days. Like savings bonds, GICs are very safe investments with a fairly low, but guaranteed, return.