Welcome to Savings Guide
Kennebunk Savings Bank Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What is a Savings Bond?
from:Introduction
The government and authorities of the United States offers it citizens a vast number of opportunities for savings and enhancement of their income. From high-interest investments to those with a moderate-level interest but secure investments, such schemes have all sorts of saving opportunities to its citizens, a savings bond being one of the most popular of its kind.
By definition, a savings bond is basically a debt security, issued by the US Department of the Treasury in order to fund the U.S. government’s borrowing needs.
Categories of Bonds
Though the categories might undergo a change over a period of time, yet at the present there are three main categories of a savings bond in the US.
Below, we’ve included a brief description of each one of these.
a) SERIES EE BONDS – This type of a savings bond is purchased at a discount of half to its face value. The government places an upper limit of the bonds worth $5,000 (at face value) in a particular year, for this category of a savings bond.
b) SERIES OF HH BONDS – A savings bond belonging to this category can only be purchased in exchange of the Series EE or E bonds, Savings notes or with the proceeds of a matured Series HH bonds.
c) SERIES I BONDS – This type of a savings bond is sold at face value and grows with the inflation-indexed earnings for period going upto 30 years.
The Benefits
A savings bond is associated with a vast series of benefits for its customers. Here we’ve briefly listed the main benefits associated with the purchase of a savings bond:
i) Extremely safe and secure, having full government faith and support
ii) Federal taxes on the interest amount can be deferred till the time the buyer actually cashes in the bond
iii) Such a savings bond is exempt from the state and local taxes, augmenting the customers savings even further
iv) As they are registered with the U.S. Treasury’s Bureau of Public Debt, this type of a savings bond can be easily replaced in case it is lost, stolen, destroyed or mutilated.
In addition, these bonds can be easily purchased from the commercial banks or through an employer by payroll deductions. These bonds can also be redeemed at many of the banks or alternatively, directly with Federal Reserve Bank. Such type of a savings bond can also be registered to a different set of people, in capacities including individual, joint and other forms of partnership.
Having a comprehensive support system form the government, a savings bond is surely one of the safest and trustworthy forms of investments in the US.
??
??
??
??
1
Kennebunk Savings Bank News
Bank donation puts new South Berwick library project one-third of the way ... - Foster's Daily Democrat
Bank donation puts new South Berwick library project one-third of the way ... Foster's Daily Democrat By AMANDA BELAND SOUTH BERWICK, Maine — On Wednesday morning, Kennebunk Savings Bank donated $10000 to the Friends of the South Berwick Library for its continued fundraising efforts toward construction on the town's new library. |
Lillian Buckley performs hymns, gospel songs, at Kittery Art Association - Seacoastonline.com
Lillian Buckley performs hymns, gospel songs, at Kittery Art Association Seacoastonline.com The KAA Music Series is celebrating its 10th anniversary season, and concerts this year are supported by Kennebunk Savings Bank, Piscataqua Savings Bank, Black Bean Café, and When Pigs Fly. The Kittery Art Association is located at 8 Coleman Ave., ... |
NEWS BRIEFS – 1/18 - KeepMEcurrent.com
NEWS BRIEFS – 1/18 KeepMEcurrent.com As part of its Community Promise program, Kennebunk Savings Bank recently has given $1000 donations to five area food pantries, including the one at the York County Shelter in Alfred. Kennebunk Savings made the donations knowing that this time of “It's ... |
Catch the classic 'Porgy & Bess' on Feb. 8 - York County Coast Star
Catch the classic 'Porgy & Bess' on Feb. 8 York County Coast Star The film will be shown on a full wall-size screen with quality projection equipment provided to Ogunquit Performing Arts by Kennebunk Savings Bank. Mark your calendars for the second Wednesday of each month, September through May, for the showing of a ... |
Frederick H. Hart II - Seacoastonline.com
Frederick H. Hart II Seacoastonline.com He also served on the Board of Corporators of Kennebunk Savings Bank for many years. He was a dedicated member of the First Parish Church, volunteering as deacon and church treasurer for more than 30 years. He loved the ocean, boating and traveling ... |
Portsmouth Theatre Group Protests Federal Ban on Blood Donations from Gay Men - MPBN News
 MPBN News | Portsmouth Theatre Group Protests Federal Ban on Blood Donations from Gay Men MPBN News Sound from video: "The FDA put a ban on savings lives. The law states that gay men are not allowed to donate blood." That's a YouTube video created by more than a dozen of the Seacoast Repertory Theatre actors last month called "Blood of Life. |