However, 20 years to see only two times your initial investment might not help you meet certain goals. Carefully consider what you plan to use the money for and its place in your portfolio. How We Make Money. Miranda Marquit. Written by. Miranda Marquit is a contributing writer for Bankrate. Miranda writes about topics related to investing, saving and homebuying. Share this page. Bankrate Logo Why you can trust Bankrate. Bankrate Logo Editorial Integrity. Key Principles We value your trust.
Bankrate Logo Insurance Disclosure. Read more From Miranda. You may also like What should I do with Series E savings bonds? Cashing in savings bonds: When can you redeem them? For more information, see How We Make Money. Pro Tip Avoid cashing in your savings bond early, unless you need cash now or plan to invest the money in an account that earns higher interest. Savings Bonds Series. How Do Savings Bonds Work? Everything to Know About Savings Bonds in 5 min read. Currently Reading.
Trending 1. In your inbox every Tuesday. A valid email address is required. You must check the box to agree to the terms and conditions. Thanks for signing up! Sign up. As long as the term of the bond is still running interest will keep accruing on it, but once the bond matures, you should go ahead and redeem it.
To see if your bond has matured, start by looking at the series name on the upper right corner of the bond. If it's a series E or series H bond, then it's matured, as all of those bonds are no longer being issued and all the existing ones have already hit their maturity date. If it's a series EE or series I bond, then it matures 30 years after the issue date.
You can find the issue date right under the series name, on the upper right corner of the bond. Series HH bonds mature 20 years after the issue date.
If the series name is anything else, then it's probably from an outdated series and has matured -- you can look up the series name on the Treasury Direct website to confirm. Once you've confirmed that your savings bonds have indeed matured, you should cash them in. There are two ways to redeem a paper savings bond: cash it in at a local financial institution, or mail it to the Treasury Department.
Redeeming the bonds at a local bank is usually the easier option; call first to confirm that they do indeed handle savings bonds, and ask what identification or other documents you need to bring with you. It's typically easier to redeem bonds at a bank where you're an existing customer.
If you've had an account with them for at least six months, often all you need to do is bring your ID and the bond. They will continue to earn interest until 30 years from the date of issue or until you redeem them. Bonds purchased before June have already reached maturity but will continue to earn interest until they are 30 years old.
Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads.
Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Table of Contents Expand. Table of Contents. How Long Should You Wait? How Interest Accrues and Compounds. Alternatives to Series EE Bonds. Learn about our editorial policies.
0コメント