Welcome to Savings Guide
Asheville Savings Bank Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Knowing the US Savings Bonds
from:Introduction
The government of any state or country always strives to offer enhanced and lucrative services to their citizens to encourage investments. The US savings bonds are one such form of investment options offered by the US Treasury, with the aim of funding the government's borrowing needs and also encourage savings and investments.
Key Aspects
The US savings bonds are basically defined as debt securities which are issued by the US Department of the Treasury, also termed as obligations of the US government. The most significant aspect of these bonds is that they are exempt from state and local income taxes.
These US savings bonds can be easily purchased from commercial banks or through an employer by payroll deductions. Consequently, these bonds can also be redeemed at many of the banks or alternatively, directly with a branch of the Federal Reserve Bank. The fastest way to encash a bond is to use your own bank, credit union or savings, though some documentation might be required for the purpose.
Another aspect about the US savings bonds, which is important to know, is that at the time of purchase, these bonds can be registered to a single person, to two people or can be registered to a primary owner and a beneficiary. Besides, the interest from the US savings bonds can also be excluded if used to pay higher education expenses, such as the likes of college tuition.
There are two main types of US savings bonds which are currently being issued. Below, we have given a brief description of each one of these.
1. I Bonds – These bonds are issued either on paper or electronically. Purchased at face value denomination, the minimum purchase amount is $50 for a bond issued on paper, $25 for a bonds purchased electronically, via Treasury Direct. These bonds are an accrual-type security, which means that the interest is added to the bond monthly.
2. Series EE Bonds – These bonds are issued on paper as well as electronically. Paper bonds are purchased at half their face value or denomination, while the electronic bonds are purchased at face value. The minimum purchase amount is $25 for a $50 paper bond and $25 for an electronic bond, from Treasury Direct.
For both the Series I as well as the Series EE US savings bonds, the interest can be deferred or declared on your taxes annually.
In case, your US savings bonds are lost, stolen, destroyed or mutilated, you are required to furnish a prompt notice to the Department of Treasury with all the possible details of the bonds, which will then be replaced accordingly.
1
Asheville Savings Bank News
ASB Bancorp Reports Fourth Quarter Results
ASHEVILLE, N.C., Jan. 31, 2012 /PRNewswire/ -- ASB Bancorp, Inc. (the “Company”) (NASDAQ GM: ASBB), the holding company for Asheville Savings Bank, S.S.B. (the “Bank”), announced today its operating results ...
Read more...Asheville area Home & Garden calendar for the coming week
Send items for the home and garden calendar to Bruce Steele at BSteele@Citizen-Times.com two weeks before the event. Or mail to Bruce Steele, Asheville Citizen-Times, P.O. Box 2090, Asheville, NC 28802.
Read more...ASB Bancorp, Inc. Announces Date of 2012 Annual Meeting of Stockholders
ASHEVILLE, N.C., Feb. 10, 2012 /PRNewswire/ -- ASB Bancorp, Inc. (Nasdaq: ASBB - News) today announced that its annual meeting of stockholders will be held on Thursday, May 24, 2012.(Logo: http://photos.prnewswire.com/prnh/20111031/CL96775LOGO ...
Read more...Engage your Asheville community
Suzanne DeFerie stands at the downtown location of Asheville Savings Bank, which is putting a time capsule on display at all its banking centers in coming months to celebrate its 75th anniversary.
Read more...Investors buy two downtown Asheville buildings, including historic S&W
ASHEVILLE — Florida-based investors have bought the S&W Cafeteria building — one of downtown’s best-known art deco structures — and hope to bring activity back to the mostly empty building.
Read more...Asheville area hiking challenges offer full year, or full day, of scenic walking
Jeff Chapman, left and Phil Swartz, make their way up Laurel Branch Road in the Bent Creek Experimental Forest on Sunday. The two were hiking with the Carolina Mountain Club, a group that offers many hiking challenges around Western North Carolina.
Read more...BNC Bancorp reports $797,000 profit for fourth quarter
A significant uptick in revenue and continued improvement in its loan portfolio enabled BNC Bancorp to post a $797,000 profit in the fourth quarter, the bank reported today.
Read more...Asheville-area Fitness Calendar
QI GONG for Body, Mind, Spirit-Opening the Body’s Energy Channels: 7 p.m. today, Jubilee! Community, 46 Wall St., Asheville. Taught by Paul Marks, acupuncturist and Qi Gong instructor. $10 donation. For more information, call 298-1245.
Read more...