Épargne Placements Québec

With Discount Bonds, you enjoy peace of mind while your savings grow. You pay a discounted price (i.e., a price lower than their face value) for a guaranteed amount at maturity. The return stems from the difference between their face value and their purchase price. Accordingly, there are no periodic interest payments. The longer the term selected, the lower the purchase price.

  • The capital invested is accumulated, year after year, at a very competitive rate of return.
  • Available for maturities of 3, 5, 7, 10 and 15 years.
  • Minimum value at maturity of $100.

If you hold your Discount Bonds in a Épargne Placements Québec RRIF or LIF, for terms of from one to five years, a total or partial redemption can be requested, without penalty, for purposes of a retirement income payment, in accordance with laws applicable under the Québec RRIF or LIF.

More details

When offered: Continuously.
Issue date: Issued daily.
Term: 3, 5, 7, 10 and 15 years, at the purchaser’s choice.
Minimum purchase amount: Any amount greater than or equal to $100.
Purchase limit: Maximum amount held of $5 000 000 for general or limited partnerships and legal persons established for a private interest or in the public interest acting on their own account, except in the case of a transfer resulting from a succession.
Purchase price: Discounted value of the guaranteed face amount at maturity set according to the interest rate determined by the Minister of Finance for the term in question. The price of Bond is established as follows:

P = $1.00 / [(1 + i)((N)/365)]


P = Price of a Bond

i = Annual interest rate

N = Number of days from the date of purchase or the date of sale to the maturity date, excluding the latter day.

Authorized purchasers: Persons or groups of persons or of properties, domiciled in Québec and subject to the rules of Québec law (natural persons, general or limited partnerships, legal persons, successions of persons, foundations and personal or social trusts).
Redemption: Total at maturity.
Eligible accounts: Investment Savings Account, tax‑free savings account (TFSA), registered retirement savings plan (RRSP), registered retirement income fund (RRIF), locked‑in retirement account (LIRA) and life income fund (LIF). Can also be entered in the account of a trustee or of an agent of a trustee for the benefit of a participant in a self‑directed plan or fund.
Assignment and transfer: The Bonds are assignable and transferable in accordance with the terms and conditions of the Regulation respecting savings products (CQLR, chapter A-6.001, r.9).
Hypothec: Allowed in favour of financial institutions if the bonds are held in an Investment Savings Account or TFSA.
Treatment at
In the absence of instructions from the client, the capital and interest (including any bonus) are automatically reinvested in Flexi‑Plus Savings units.