$100 Canada Savings Bond- Compound Interest- Matured 2004: How much now?**UPDATED**

[theweave3162]

Okay after searching and searching Google, I found one thing that Google cannot answer!

I recently remembered that I have 2 $100 CSB. Right now they are in Woodstock but I found out tonight that they matured in 2004. You would think I am stinking rich right? Well no, not really. They stop interest when they mature. These were the "old" bonds, so they were good for 10 years (3 years now). They are both compound interest, I remember that part.

COME ON SHOW ME THE MONEY!!!!!!!!!!

**UPDATED August 27/2014**

So I got the bonds on Sunday and took them into Royal Bank on Tuesday. The teller looked them up in the computer and told me that they are worth $199.20 each. $100 for the bond and $99.20 in interest! I must say that I am pleased with that considering a bond now would be what I call a "junk bond" with next to nothing in interest. So both got cashed and put into my bank account! So they may have sat for a bit but they were guaranteed not to lose money, which is a pretty good deal in and of itself!

[blueeyetea]

If you know the number of your bond, you can look up the redemption value on the CSB site:

http://www.csb.gc.ca/fis/redemption-tables-s40/

[theweave3162]

If you know the number of your bond, you can look up the redemption value on the CSB site:

http://www.csb.gc.ca/fis/redemption-tables-s40/

Thank you. I think it is a S40 bond (according to Google). If that is right, it is worth $186.00 now. That is on a $100 bond, I think my rolled or something so I will see when I get it. Either way, I am not able to retire but it is better than them holding onto it!

I was at the bank today and the "Financial Advisor" told me that if you leave it longer than 10 years, you forfeit you interest, I know the government is cruel but not that cruel! I will go cash them when they arrive in the mail!

[beckie.c]

If I'm remembering my math correctly, I ***think*** they would roughly be worth $144.26 each based on the interest rates above, assuming they are compounded monthly.


I believe the formula is A=P(1+r/n)^nt, where
A= end amount
P= principal ($100.00)
r = rate of return
n = number of times it is compounded per year
t = number of years at that rate of return

So essentially you need to do a separate calculation for each year, since the interest rates change. You could do it monthly as well for those years where the interest rates are different, but that would be rather time consuming

That's the best guess I have for you I'm really curious now to know what the answer is and see if I'm on the right track, LOL!

[theweave3162]

Beckie,

Come on, you are giving that to someone that had to take math 3 times to get a 62????? That is like teaching me nuclear physics! *LOL* I will let you know what the correct answer is, but I think my answer from the chart is the right one. I hope it is worth about $1200 because that is what I need, but I highly doubt it!

[beckie.c]

Beckie,

Come on, you are giving that to someone that had to take math 3 times to get a 62????? That is like teaching me nuclear physics! *LOL* I will let you know what the correct answer is, but I think my answer from the chart is the right one. I hope it is worth about $1200 because that is what I need, but I highly doubt it!

HaHa... I'm the nerd that finds Math problems FUN LOL, my hubs makes fun of me all the time, but it comes in handy when he has Math homework for his apprenticeship LOL

I wish the interest rates on CSB savings bonds were like than now! My bond made a whopping 1% last year, the only reason I have it is because it comes off my cheque before I get it so its like hidden money.

[theweave3162]

Yes they are disgusting now. Might as well stuff it under the mattress! You can even buy a CSB at the bank now, it is payroll only. Really handy when you are unemployed for four years! Totally assinine move by our stupid Conservative government, oh wait that is the same one that introduced the RDSP that is going to give me $4000 in free money! Some good, some not good !

[Anna Michele]

Hmmmso iguess ishouldntworry too much aboutgettingbonds for the kidsthis year

[theweave3162]

Anna,

I suggest giving the kids cash.. It pays about the same amount as a CSB anyhow!

[Frugalbigmama]

I have 2 bonds for the kids that I can't find. I swear I never picked them up from the bank as I have the form that needs to be signed on pick up and it's not signed but they say they don't have them. So I have to pay $25 each to have them re-issued.

[theweave3162]

You know about the 120 waiting period right? That happened to me before. I could not find the bond that I had and had to get it replaced. Now I have the bonds but not with me. I assume that you have contacted them already to report them lost. If not, let me know and I can help you out.

[Anna Michele]

I have 2 bonds for the kids that I can't find. I swear I never picked them up from the bank as I have the form that needs to be signed on pick up and it's not signed but they say they don't have them. So I have to pay $25 each to have them re-issued.

Wow 1/4 of their worth that is crazy

You know about the 120 waiting period right? That happened to me before. I could not find the bond that I had and had to get it replaced. Now I have the bonds but not with me. I assume that you have contacted them already to report them lost. If not, let me know and I can help you out.

Could you let us all know I can def see this happening to me

[Frugalbigmama]

No, Mine are worth more then $100 each so worth it. Even at $100 each it would be worth it (better then kissing the $ good bye)

Wow 1/4 of their worth that is crazy

Could you let us all know I can def see this happening to me

[theweave3162]

If you have a bond that is lost or stolen you have to report to the Canada Savings Bond people. They have a link on their website. There is a 120 day waiting period (probably because in case you find it). Otherwise it is really easy to do it. I don't remember paying for the replacement. But last time was a long time.

[Frugalbigmama]

You know about the 120 waiting period right? That happened to me before. I could not find the bond that I had and had to get it replaced. Now I have the bonds but not with me. I assume that you have contacted them already to report them lost. If not, let me know and I can help you out.

Waiting period? I was just told by TD that I would have to pay $25 each. I was hoping to find them but haven't.