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United States Savings Bond |
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US Savings Bond In the United States, a non-tradeable bond issued by the federal government for savings purposes. Savings bonds allow citizens to receive a guaranteed return for their investments and raise revenue for the government. There are two types of savings bond: Series EE and Series I, with the main difference being that Series I bonds have interest rates indexed to inflation. Savings bonds pay coupons semi-annually; they are sold at face value and pay par upon maturity, which is 30 years after purchase. Bonds not held for at least five years are subject to a redemption penalty. Federal taxes on interest are deferred until redemption or maturity. Savings bonds are non-transferable and must either be held or redeemed. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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