The Canada Premium Bond offers the same general features as Canada Savings Bonds but has a higher rate of interest at the time of issue than a CSB on sale at the same time and can be redeemed each year on the anniversary of the issue date and during the 30 days thereafter.While the Canada Premium Bond has a ten-year term to maturity, interest rates are often announced for a shorter period and remain in effect for that announced period. At the end of the period, new rates will be announced by the Minister of Finance based on the prevailing market conditions.