How to use savings bonds?
by admin ~ August 23rd, 2008 . Filed under: Personal Finance .
jalen b asked:
ive gotten two savings bonds lately and i really want to use them and yea lots of people told me not to and just wait but i dont want to so i need to know how much would it be worth if its a $200 one and a $100 savings bond and i also want to know if they tax you for taking it out
Lacy Buda
ive gotten two savings bonds lately and i really want to use them and yea lots of people told me not to and just wait but i dont want to so i need to know how much would it be worth if its a $200 one and a $100 savings bond and i also want to know if they tax you for taking it out
Lacy Buda
August 23rd, 2008 at 9:44 pm
Short and sweet, go to
I have ‘em and check there sometimes for values, etc.
August 25th, 2008 at 2:49 am
The bonds have a face value. This is the amount that the bonds are worth when they mature. The bonds are purchased at a discount, usually half the face value.
My advice… take them to a bank and cash them in… Savings bonds, though guaranteed, are the worst investment there is.
August 26th, 2008 at 9:43 am
Savings bonds are best left untouched for the long haul. You cannot cash them in the 1st 6 months. Afterwards if you do, you will lose I beleive 6 months interest.
Save them for years down the road. They will be state income tax free, but you’ll have to pay capital gains on the federal form.
These are great for children, and college funding. The interest rate is not a fortune, but it cannot be beat for safety.
August 27th, 2008 at 12:34 am
Both Bonds should be a bit over 150.00 There is no tax or penalties for cashing them in.The thing with Savings Bonds the longer you wait to cash them the more money they are worth.My in laws got them for my kids and I cashed them all in and got Cd’s for them.
August 29th, 2008 at 10:51 pm
It depends on what type of bonds that you have or purchased.
Are they Series I Bond or EE Bonds? Some mature after 12 months…read all about them befroe you do anything. There are also other series.
Either way, do your research before you do anything. You could be doing something very foolish!
There are several facts on Bonds on the internet.
JUST Google- US SAVINGS BONDS- and there is a WORLD of information!