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Us Savings Bonds Series Ee Article
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Know All About US Savings Bond
from:Introduction
As an initiative to encourage, promote and develop a strong savings base, the US government introduces various attractive schemes for inviting investments from its citizens, which promote savings as well fund the government’s borrowing needs.
The US savings bond is one of such saving options offered by the government, having attractive interest rates, lucrative terms and easy application and payment options. In fact, the US savings bond is considered as one of the safest forms of investment in the US, as they have the full faith of and are supported completely by the US government.
The Concept
The US savings bond is basically a debt security, issued by the US department of the Treasury, also commonly referred to as the obligation of the government of the US. The main feature which attracts scores of investors is the fact the US savings bond is exempt from state as well as local taxes.
There are two main categories of a US savings bond that are currently being issued. Below, we’ve included a brief description of each one of these.
A) I Bonds – Issued either on paper or electronically, this type of a US savings bond is purchased at face value denomination, the minimum purchase amount being $50 for a bond issued on paper and $25 for a bond purchased electronically. Known as an accrual-type of security, the interest on this type of a US savings bond is added monthly.
B) Series EE Bonds – These bonds are also issued electronically as well as manually. While the paper bonds are purchased at half their face value, with limit of $25 for a $50 paper bond, the electronic bonds are purchased at face value of $25 from the Treasury Direct.
For both the Series I as well as the Series EE bonds, the interest can be deferred or declared on the taxes annually. In a situation where the US savings bond is stolen, destroyed or mutilated, the investor is required to intimate the Department of Treasury, furnishing all the possible details, so that the same can be replaced at the earliest.
To make this form of investment more investor-friendly, at the time of purchase the US savings bond can be registered to a single person, two people and alternatively, to a primary owner and a beneficiary. In addition, the interest accrued from the US savings bond can also be excluded if used to pay higher education expenses, such as college tuition.
In addition, the federal taxes on the interest amount can be deferred until the buyer cashes in the bond or stops paying the interest at maturity.
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Us Savings Bonds Series Ee News
LEGAL EASE: Sale of paper US savings bonds to be discontinued - The Mercury
LEGAL EASE: Sale of paper US savings bonds to be discontinued The Mercury Although savings bonds have been in existence since 1935 (Series A with a face value of $25 and a purchase price of $18.75), the most famous were the Series E Defense Savings Bonds, sold to finance World War II. They became known as War Bonds after the ... |
Days of savings bonds you could touch are long gone - Sarasota Herald-Tribune
Days of savings bonds you could touch are long gone Sarasota Herald-Tribune The Bureau of Public Debt announced in July that it would sell bonds only via its Web-based system beginning in 2012. The Series EE and I bonds have been sold electronically at TreasuryDirect.gov since 2002. "Savings bonds are very much a part of this ... |
President Obama to Honor National eCYBERMISSION Finalists at White House ... - MarketWatch (press release)
President Obama to Honor National eCYBERMISSION Finalists at White House ... MarketWatch (press release) The team came away with $3000 in US Series EE Savings Bonds per student for creating an inexpensive and easily accessible way to improve unsanitary water conditions in underdeveloped countries, testing a water purification system using the process of ... |
CONSUMER AFFAIRS: Convert paper bonds into electronic bonds - nwitimes.com
CONSUMER AFFAIRS: Convert paper bonds into electronic bonds nwitimes.com The agency uses a program called SmartExchange in its Treasury Direct online system for the conversion of the paper savings bonds. Series E, EE and I Bonds may be converted into electronic securities through an identified Conversion Linked Account, ... |
Premack: What tax-favored educational savings programs are available? - San Antonio Express
Premack: What tax-favored educational savings programs are available? San Antonio Express The Education Savings Bond program allows you to cash in certain US Savings Bonds tax-free. A “qualified US Savings Bond” must be a series EE issued in 1990 or later, or a series I bond. The owner of the bond must be at least age 24 before the bond was ... |
Here & there - The Free Lance-Star
Here & there The Free Lance-Star Credit-card companies pursue us like hounds, and in time of national crisis we are urged by our leaders to display our patriotism by going shopping. Meanwhile, the current lifetime interest rate on a Series EE US Savings Bond--the latest generation of ... |
bond switch leaves 'em grousing - Tribune Review
bond switch leaves 'em grousing Tribune Review That's also the year Treasury stopped actively promoting savings bonds. In 2011, the government sold about $1.7 billion in US savings bonds, with 88 percent of them in paper form, according to bureau figures. That's about half the volume just four ... |