If you have paper bonds, you can bring them to a financial institution.
Totals: Price: 1,000 Interest: 1428.40 Value: 2,428.40 Alternately, you can just use the savings bond calculator to find out the information without downloading the program.For many years,.S.But add one more thing to the financial list of things that require our attention in 2016 -.S.The bonds bought in 1986 will be hitting final maturity and stop earning interest in various months depending on the issue date.The Series EE bond you own from 1983 will reach its final extended maturity in June 2013.Now a Series EE savings bond issued from November 2015 through April 2016 will earn a fixed rate.10 - so they're not all that exciting.Note: Cashing in bonds just one day before interest is posted will cost you all the interest for that period (either looking for wife from Morocco one or six months, depending on the bond).A Big Warning for Savings Bond Holders.
How much money could we be talking about here?
As of the end of October, more than.5 million Series EE savings bonds bearing 1986 issue dates were outstanding, according to the federal Bureau of the Fiscal Service.
Also, despite low current fixed rates, all EE bonds issued since May 2005 are guaranteed to double in value in 20 years, with a value adjustment made at that point.
Some banks and credit unions also will not redeem savings bonds at all.Id use the rate column, updated to reflect the new rates available to you at the next interest date, to decide whether or not to redeem the bonds.The current I bond composite rate.94 percent, with the fixed rate component being only.10 percent.Don, go to the.These bonds were purchased at half their face value.Where can I cash the bond?The government tinkered with the interest rate formula, making them far less attractive as an investment by fixing rates for the life of the bond.The interest earned is taxed at regular income tax rates, not as a capital gains income tax rate.For the remainder of the bonds, it makes sense to hold them at least through their 17-year original maturity.Pederson said his former office at the Federal Reserve Bank branch in Detroit received more than 10,000 applications for savings bonds in the last four days of October 1986.Also, for bonds purchased after 1989 in parents' names, there may be some tax advantages if the proceeds are used to pay college costs, depending on the family income and other requirements., how do I choose which bonds to cash in?The Series E bond was launched on April 30, 1941 by President Roosevelt as a way of funding World War.
During the extended maturity period, the bond continues to earn interest according to the terms of the extension period.
Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy.