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The information on this site does not modify any insurance policy terms in any way. Dear Dr. I am not familiar with the process of a savings bond and how it matures. It is a Series EE. Any information would be helpful. How can they make the most on these bonds? Physical bonds have a face value twice the price paid when they were issued. And be ready to talk with a professional financial advisor for how you can put your savings bond money to better use to support your long-term financial goals.
Ben Gran is a freelance writer who covers personal finance and financial services. A graduate of Rice University, he has written for several Fortune financial services companies. Ben is based in Des Moines, Iowa. Select Region. United States. United Kingdom. Ben Gran. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Types of U.
Savings Bonds There are several types of U. Series HH Series HH Savings Bonds were issued from to , and had a maturity date of 20 years, so some of these bonds are still earning interest until Figuring Out What Your Savings Bonds Are Worth The value of a savings bond depends on a few factors: what type of savings bond it is, when it was issued and whether it was sold at face value or as a percentage of face value.
There are a few questions you should think about before you decide to redeem your savings bonds: Has the bond fully matured? If your bond is no longer paying interest and has fully matured, then you may as well cash it in and get that money to put toward other purposes. Has the bond reached its full face value?
Some bonds were sold at half of face value, and can only be redeemed for full face value after a certain amount of time has passed. Make sure you are eligible to receive the full amount of cash that you were expecting to get. Will you have to pay an interest penalty?
Why are you cashing out the bond—what do you want to do with this money? Savings bonds are meant to hold your savings and deliver a stable interest rate over several years. Why are you cashing out this bond now? Can you earn a higher yield on your savings by investing in the stock market or putting cash into a high-yield savings account? Do you need short-term emergency cash or money for a major purchase? How Do Savings Bonds Work?
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