3 Ways to Buy Savings Bonds Issued by the United States

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2024 Author: Samantha Chapman | [email protected]. Last modified: 2023-12-17 09:13

US savings bonds are a low-risk investment that you can make for yourself or donate to someone else - and the interest you earn is exempt from state and regional taxes. You can buy savings vouchers at a bank or online. The following pointers offer you some tips on how to purchase savings bonds via the internet and financial institutions.

Steps

Method 1 of 3: The Series of Savings Bonds Issued by the United States

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Step 1. Choose which series you want

The two main ones available to the public are the EE and I series. You can purchase up to $ 5000 worth of coupons for each series issued in any year in both print and electronic format, but the maximum amount applies separately to each format.

The EE series of US savings bonds provide for a fixed rate of interest, determined at the time of purchase. By purchasing them, the investment will double in twenty years. Paper vouchers in this series can be purchased for half their face value.
The Series I of US Savings Bonds can only be purchased at their face value. They provide for a fixed interest rate, determined at the time of purchase. The bonds in this series also provide for an inflation rate, calculated twice a year.
Both series accrue interest at the end of every thirty years with interest calculated every six months until maturity.
Both sets can be cashed out after one year, but you must pay a penalty based on the interest accrued in three months if you decide to redeem them before five years.

Method 2 of 3: Buy Online Savings Bonds Issued from the United States

Step 1. Go to TreasuryDirect.gov, made available by the US Department of the Treasury

Step 2. Select the “Treasury Direct” tab under “Open An Account”

You must be over 18 to open a personal account in Treasury Direct and have a search engine that supports 128-bit encryption.

Enter your personal information. You will be asked for your name, social security number, US residential address, driver's license number or State ID number, bank account details and e-mail address. mail.
Enter your password.
Select a password reminder.
Check your email for registration details provided by the US Department of the Treasury.

Step 3. Log in to your registered Treasury Direct account

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Step 4. Select the savings voucher holder

If you wish to gift it to someone else, the recipient will also need to have a registered account on Tresaury Direct. In addition, it is necessary to know the full name of the recipient and his tax code or VAT number

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Step 5. Choose the series of savings bonds you intend to purchase

Both EE Series and I Series vouchers are sold online at their face value with a minimum purchase equivalent of $ 25. However, it is possible to buy them over the internet for any amount of money. Review your purchase requisition

Step 6. Submit the order

The money will be withdrawn from your account within one business day, once the order is completed.

Step 7. Confirm the purchase

You will have a history of the savings voucher available in your account; you will not receive any paper coupons.

Method 3 of 3: Buy US-Issued Paper Savings Bonds

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Step 1. Submit your application to a financial institution

You can purchase paper-based savings coupons at set denominations, starting at $ 50.

If you wish to give it to someone else, you will need their social security number, otherwise you will need to provide yours

Step 2. Pay the savings coupon

You will receive a certificate of registration which certifies your purchase.

Advice

You can manage, modify your registration and redeem your savings vouchers through your registered Treasury Direct account.
You can convert paper savings certificates to electronic through Treasury Direct's new program called Smart Exchange. You must have a registered account on Treasury Direct before proceeding to convert them.
Both electronic versions of the EE and I series of US-issued savings bonds can be partially redeemed. The partial redemption may be at least $ 25 and the remainder must be at least $ 25 during the month in which the redemption was issued.

Warnings

Savings bonds are also subject to donation, inheritance, estate, or other consumer taxes, whether federal or state.
The interest on the savings voucher is subject to federal income tax when it is collected. However, earnings may be exempt from this type of taxation if you use them to pay college installments.

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