When is the soonest that I can cash in my EE savings bonds?
by admin ~ February 14th, 2007 . Filed under: Personal Finance .
K asked:
I have some from 2005. Does that mean that I have to wait 28 more years?
Basilia Nemunaitis
I have some from 2005. Does that mean that I have to wait 28 more years?
Basilia Nemunaitis
February 17th, 2007 at 12:24 pm
Cash them in whenever you want; but won’t get full value.
Redemption Information
Minimum term of ownership: 1 year
Interest-earning period: 30 years
Early redemption penalties:
Before 5 years, forfeit 3 most recent months’ interest
After 5 years, no penalty
February 18th, 2007 at 6:43 pm
no you don’t have to but those are educational bonds that should be used for schooling if they are not then you will have to pay taxes and penalties on you tax return the year you cash them in.
February 21st, 2007 at 3:47 pm
after one year you can cash them, but you will lose some intrest as a penalty for cashing early.