Interest
| Q. | I own Ontario Savings Bonds that normally pay an annual interest. Will I still receive interest payments? |
| A. |
Yes. You will continue to receive your annual interest payments by cheque or direct deposit every June 21, until your bond matures or until
you redeem it. Please ensure your mailing address or direct deposit information is up-to-date. To update your information, you can fill out the
Change of Information form For Compound Interest bonds, interest is compounded on June 21 of each year and is paid to the bondholder(s) at maturity or when the bond is redeemed. |
| Q. | Can I still enroll in Direct Deposit to receive my interest payments? |
| A. |
Yes, you can enroll in Direct Deposit to receive your interest payments by filling out the
Change of Information form Changes to direct deposit information ARE NOT accepted over the Telephone or by Fax. |
| Q. | How can I tell if my Ontario Savings Bond is a Compound Interest bond or an Annual Interest bond? |
| A. |
"Annual Interest Bond" or "Compound Interest Bond" is indicated in the top portion of the Ontario Savings Bonds certificate. |
| Q. | Where can I find interest rate payable for my OSBs? |
| A. |
Interest rates for all series can be found here. |
| Q. | Can the method in which interest payments are made be changed throughout the life of the Ontario Savings Bond? |
| A. |
Yes. The request to change the method in which interest payments are made must be made through the
Registrar, at least 15 days prior to any interest payment date.
A Change of Information Form
|
| Q. | If there is a change to direct deposit information and the Registrar is not notified, how are future interest payments affected? |
| A. |
If the Registrar does not have the correct direct deposit information, the interest payments will not be successfully deposited into the bondholder’s account. As a result, a cheque for the unsuccessfully deposited interest payment will be forwarded to the bondholder’s address currently on file. It is the bondholder’s responsibility to contact the Registrar with any corrections or
changes to existing financial information. To notify the Registrar of any changes, download
the Change of Information Form
|
| Q. | Does the interest earned on Ontario Savings Bonds have to be reported on yearly income tax returns? |
| A. |
For tax-related inquiries, please contact Canada Revenue Agency directly at 1-800-959-8281. |
and return it to the address as indicated on the form.
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