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Fixed Income

Provincial Bonds

Provincial Bonds issued by Canada's Provincial Governments offer high quality and better rates than similar Government of Canada bonds. While the level of quality varies by issuing province, TD sells only the highest grade provincial bonds available. They pay a guaranteed, fixed level of interest income and are available for terms from one to 30 years. Every penny of principal and interest is guaranteed by the issuing province, no matter how much you invest. Even if you normally hold your investments to maturity, it is nice to know that provincial bonds are fully marketable and can be sold at market value at any time. Some provincial bonds are available denominated in U.S. as well as Canadian dollars; both are considered Canadian content within your RSP/RRIF.

Common Characteristics

Dollars to Invest/Time Horizon
Minimum investment (at face value) is $5,000. Terms vary from one to 30 years.
Risk/Return
Fully guaranteed by the issuing province. Every aspect of the investment is guaranteed, regardless of the size of the investment. Higher yields than Government of Canada investments of similar term.
Liquidity
May be sold at any time, with settlement within three business days.
Income
A fixed level of interest (coupon) is paid semi-annually and face value is returned at maturity.

Key Benefits

  • Fully guaranteed principal and interest, regardless of the size of the investment. Guaranteed return when held to maturity.
  • Provides guaranteed regular payments of income.
  • Competitive yields.
  • High degree of liquidity.
  • Low minimum investment required.
  • RSP/RRIF eligible.

Non Registered fixed income investments
can be purchased through your local TD Canada Trust branch or from TD Waterhouse.
Registered fixed income investments
can be purchased from TD Waterhouse.

Disclaimer for United Kingdom Residents

Disclaimer for United States Residents


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