what do I do with my son’s savings bonds?
by admin ~ April 20th, 2007 . Filed under: Other - Business & Finance .
watson4_27 asked:
for my son’s baptism we were given several savings bond, EE and I Bonds. Do we deposit them into a bank account, do we have to wait for a certain amount of time?
Marilyn Worchester
for my son’s baptism we were given several savings bond, EE and I Bonds. Do we deposit them into a bank account, do we have to wait for a certain amount of time?
Marilyn Worchester
April 22nd, 2007 at 5:01 pm
Ask your bank.
OR Check out this federal website :
April 23rd, 2007 at 10:11 pm
You might want to ask a bank manager about that. Put them in a special account where he CANNOT TOUCH IT until he is 18.
April 25th, 2007 at 6:42 am
Save them untill he is 21 and give them to him ….they will be worth more then ………
April 27th, 2007 at 5:31 am
you don’t and can’t deposit them in a bank. you just need to hold on to them, put them in a safe place so you won’t lost them. you have to hold them for minimum of 1 year, and if you withdrew within 5 years, you lost the last 3 months of interest. after 5 years, there aren’t any penalties.
they stop earning interest after 30 years. you can cash them at your bank or on
you can also convert paper bonds to electronic bonds. you can find all the information you need on
April 27th, 2007 at 8:07 am
On the bonds there is a statement that says it will pay interest until a certain date. If the bonds are passed that date,then cash them in and put the money into a income producing account.