I am 21 now & my parents recenlty found a savings bond of mine that was issued in 1999 when i had graduated middle school. The savings bond is for 1,000.00 dollars. I am so confused about this savings bond stuff. I am looking to cash the bond and use it towards helping pay off some of my college classes but not sure of the amount I would get for it. If I cash it, will I actually get the 1,000.00 dollars or will it be more than that or less than that? I know the person who gave it to me only paid $500 for it so i was wondering if it is matured enough to actually cash and get the full one thousand that it says on the bond???
please someone help me figure this out, im not too knowledgable when it comes to finanicial stuff.
I appreciate it:)
2006-07-29 13:10:32 · 7 answers · asked by angeleyez410 1 in Business & Finance ➔ Investing
There is a lot of wrong information in the above answers.
First "maturity" means a couple of different things and no one is defining what they mean. Some people use "maturity" to mean when an EE bond reaches face value (17 years after issue for Savings Bonds issued in 1999), some people mean when a Savings Bond stops earning interest (30 years after issue for EE bonds).
Although the government Savings Bond site that everyone is linking to here is comprehensive, it's just the facts. A much better site for Savings Bond information is http://www.savings-bond-advisor.com/
Also, nowadays new Savings Bonds have to be held for 12 months, not six months, before you can cash them.
This is the third copy of your question I've seen here. I put the actual answer to your question on the first two.
2006-08-02 11:33:33 · answer #1 · answered by Tom W 2 · 1⤊ 0⤋
Most savings bonds are usually matured by ten years or longer. If you got it in 1999, it's probably not mature enough for you to cash in on the full amount.
There's a savings bond calculator on this page that you can use to find out its worth today:
http://www.publicdebt.treas.gov/sav/savcalc.htm
2006-07-29 13:14:04 · answer #2 · answered by penpallermel 6 · 0⤊ 0⤋
the precise fee of your bond relies upon on what month it develop into issued in 1999. yet, as an social gathering, a $a million,000 EE bond issued in June 1999 is presently properly worth $660.80. The bond pays interest for 30 years from its situation date, yet there is not any reason you need to carry it that lengthy. you could money it whenever you choose the money. In maximum states, maximum banks will redeem it for you once you've an account there.
2016-11-26 22:46:20 · answer #3 · answered by ? 4 · 0⤊ 0⤋
You'll be happy about this one! It's fairly simple to check the value of your bond. First, you'll need the numbers from the bond and the date it was issued. Then, go to http://www.savingsbonds.gov/ and the website will lead you through the process to get the current balance. If you need to cash it out, just go to your local bank and they'll do it for you.
2006-07-29 13:14:39 · answer #4 · answered by SuzeY 5 · 0⤊ 0⤋
I think it takes 30 years for a savings bond to mature (for you, reach to $1000 mark). So you will definitely get less than $1000, probably about $625.
2006-07-29 13:15:54 · answer #5 · answered by Laura N 2 · 0⤊ 0⤋
you can cash them anytime 6 months after the issue month, the bank has a chart on the maturity & what it pays at this time, check with any regular bank or maybe the U.S. Treasury has something on line you can access.
2006-07-29 13:18:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Go to this website:
http://www.publicdebt.treas.gov/sav/sav.htm
It should have all the info you need as far as calculating the value of it and redeeming it etc...
2006-07-29 13:15:06 · answer #7 · answered by Joey 5 · 0⤊ 0⤋