Savings bonds

RECENT NEWS
Wall Street Journal  Jul 11  Comment 
China's Finance Ministry sold about $6.45 billion of bonds designed for individual savers, which offer lucrative yields.
CNNMoney.com  Jan 2  Comment 
Read full story for latest details.
MarketWatch  Feb 12  Comment 
The Treasury Department is pushing the strategy as a convenient way to save, but advisers warn against it.
CBC.ca  Oct 1  Comment 
Canada Savings Bonds go on sale across Canada today with a new focus on payroll savings plans, shorter maturity dates, and the usual rock-bottom interest rates the bonds have lately been known for.
Wall Street Journal  Aug 26  Comment 
You can redeem Series EE and other paper savings bonds at most financial institutions with proof of identity.
New York Times  May 30  Comment 
The Treasury Department has developed tools to help people navigate the world of digital savings bonds.
Wall Street Journal  Feb 26  Comment 
In a cost-cutting move, paper Series EE and I savings bonds are no longer being sold at banks and other financial institutions. Instead, electronic versions can be purchased through TreasuryDirect.
New York Times  Jul 14  Comment 
You won't be able to buy paper savings bonds at banks after the end of this year.
CNNMoney.com  Jul 13  Comment 
Starting next year, you'll no longer be able to buy paper savings bonds at banks and other financial institutions.
The Globe and Mail  Mar 23  Comment 
Budget proves 0.65% interest just doesn't cut it




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Savings bonds are debt securities issued by the U.S. Department of the Treasury to pay for the U.S. government’s borrowing needs. Saving bonds are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government.

There are several types of U.S. savings bonds:

  • Series EE Bond: These savings bonds replaced the Series E bonds. They are purchased at a discount of half their face value. One cannot buy more than $5,000 (face value) during any calendar year. EE bonds increase in value as the interest accrues or accumulates and pay interest for 30 years. When EE bonds “mature,” or come due, the holder is paid the original investment plus all of the interest.
  • Series HH Bond: One can purchase Series HH bonds, but only in exchange for Series EE or E bonds and Savings Notes, or with the proceeds from a matured Series HH bond. Unlike EE bonds, Series HH bonds are purchased at their face amount in $500 to $10,000 denominations, but there is no limit on the amount one can purchase. These bonds don’t increase in value and have a maturity of 20 years.
  • Series I Bond These bonds are sold at face value and grow with inflation-indexed earnings for up to 30 years. One can buy up to $5,000 in any calendar year.

U.S. savings bonds have tax advantages. The holder of the bonds can defer federal taxes on the interest until he cashes in the bond or stops paying interest at maturity. Savings bonds are also exempt from state and local taxes. Because savings bonds are registered with the U.S. Treasury’s Bureau of the Public Debt, one can get bonds replaced if they bond is lost, stolen, or destroyed.

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