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Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
50% - Moderately
50% - Moderately
Canada Savings Bond
|Synonyms:||government issued bond, interest-bearing certificate|
|Filed Under:||financial-banking, government, investments|
|Broadly associated with:||[Government of Canada]|
|Narrowly associated with:||[Canada Savings Bonds]|
Definition of Canada Savings Bond (CSB)
- Canada Savings Bond (CSB)
- 1. A bond issued by the Canadian Government as a safe method for Canadians to acquire savings. The bonds, which are a form of debt, can be cashed with proper identification at any time through most Canadian financial institutions.
Related Terms and Acronyms:
- bond A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.
- debt issues The issuance of bonds or other forms of debt on the public markets.
- fixed-return investments Investments that provide a stable return.
- investment Something you put your money into in order to make money.
Broad and Narrow Associations
[Government of Canada]
Registered Retirement Savings Plan (RRSP) — Canada, Very Important
A savings plan introduced by the federal government to encourage Canadians to save money for retirement. The investment and the interest earned on it is sheltered: it will not be taxed as long as it is left in the plan.
➥ Tax deferred investment contribution used to reduce income tax.
Canada Mortgage Bonds (CMB) — Est. 2001, Canada, Very Important
A fully guaranteed fixed interest rate income investment backed by CMHC (a crown corporation of the Government of Canada).
➥ Issued by the Canada Housing Trust (CHT).
Registered Education Savings Plan (RESP) — Canada, Very Important
An investment vehicle used for a child's post-secondary education.
➥ RESPs are offered by most financial institutions in Canada.
Home Buyers' Plan (HBP) — Canada, Very Important
A way for a homebuyer to use part of his or her RRSP as a down payment on a mortgage.
➥ Government assistance for first-time homebuyers.
Canada Mortgage and Housing Corporation (CMHC) — Company Est.1946, Canada-wide, Very Important
The Canada Mortgage and Housing Corporation: this is a Federally run institution that provides banks and lenders with mortgage insurance. Not to be confused with life or property insurance. In the event of default or foreclosure CMHC assumes responsibility of the property and reimburses the bank/lender the entire mortgage amount. This insurance is required generally when you have less than 25% equity or down payment. This insurance is paid by the property owner in advance but usually added to the mortgage amount. See also "G.E. Capital."
➥ Insures Canadian mortgage lenders.
[Canada Savings Bonds]
Canada Premium Bond (CPB) — Canada
➥ A Canada Savings Bond program.
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