Hey everyone!
I am a new PR and plan to move from the US to Canada in a yr or 2. I am looking to invest some money in bank of Canada bonds for a yr or 2, if it’s possible. Are there any Bank of Canada Bonds which can be purchased by common peopla and especially by new immigrants? I dont want to invest in stocks rn, because obviously. Haha.
If anyone follows US treasury, currently the series I bond offered by US treasury is for 30 yrs but can be redeemed after 1 yr with penalty of 3 months interest. Currently series I bond gives a total interest rate of 9.62 % for first 6 months of investment, super high interest rate because of inflation. And I think the new rate for Nov ‘22 to April ‘23 coming next month will be between 9-9.5% too. So even with 3 months penalty, the effective interest rate on a $10k investment is around 7%.
So, my question is this - does bank of canada offer any similar bond(of course interest rate will be different) in which money can be invested with guaranteed returns like series I bonds offered by the US treasury? The reason to invest in Canada is because I’ll be moving there and also because of the High USD-CAD conversion rate, and I have already invested the max limit allowed by US treasury for this year .
I am a new PR and plan to move from the US to Canada in a yr or 2. I am looking to invest some money in bank of Canada bonds for a yr or 2, if it’s possible. Are there any Bank of Canada Bonds which can be purchased by common peopla and especially by new immigrants? I dont want to invest in stocks rn, because obviously. Haha.
If anyone follows US treasury, currently the series I bond offered by US treasury is for 30 yrs but can be redeemed after 1 yr with penalty of 3 months interest. Currently series I bond gives a total interest rate of 9.62 % for first 6 months of investment, super high interest rate because of inflation. And I think the new rate for Nov ‘22 to April ‘23 coming next month will be between 9-9.5% too. So even with 3 months penalty, the effective interest rate on a $10k investment is around 7%.
So, my question is this - does bank of canada offer any similar bond(of course interest rate will be different) in which money can be invested with guaranteed returns like series I bonds offered by the US treasury? The reason to invest in Canada is because I’ll be moving there and also because of the High USD-CAD conversion rate, and I have already invested the max limit allowed by US treasury for this year .