I received a $100 savings bond last summer, and my parents said that I could cash it as soon as the bank will allow me to. Do I have to wait one year? Because in that case, I could cash it now. And will I get the whole $100 or just $50? I heard something that you only get half of it? Please answer both questions, thanks =]
2007-07-01 16:57:52 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
it depends totally on the mature date, some bonds are 5 yrs, some even stretch for 10 or 25.
i cashed in a few earlier this month. one was way over mature, and i got the whole thing and some because of interest. the other was 3 years away from being mature, and i recieved roughly 70% of its value.
i am guessing you won't get anything but $10 - $15 for it, you might as well hold it for a couple more years and just wait. no point on wasting a good thing early.
2007-07-01 17:09:21 · answer #1 · answered by Rev. Justin G 3 · 0⤊ 0⤋
First, the interest they pay is not good. Cash it in and invest it in something better. (I know you are not going to do that. But it is good advice anyway.)
Second, you used to be able to cash anytime, but they changed the rules for different series, so it depends.
Third, you will not get much more than it cost. You have to wait till it matures to get the full amount.
2007-07-02 00:38:01 · answer #2 · answered by Richard F 7 · 0⤊ 0⤋
You will only get half unless you wait till it matures anywhere between 5 to 10 years. You have to go to your bank & ask them. You can go & cash it right now & get $50.00, you make have to pay a fee.
2007-07-02 00:10:39 · answer #3 · answered by paul s 4 · 1⤊ 0⤋
you won't get face value til' it matures,(usually 5 years)
2007-07-02 00:05:05 · answer #4 · answered by whiteman 5 · 0⤊ 0⤋