How do you get into your savings bond?

Question

My great grandma just died and left me $1500 in a savings bond but i don't know how to get to it. I am going to put it in the bank so it will gather interest so by the time I want to get a car and put a down payment on a house it will be there.

Answer 1

YOU don't have to do at THING with a Savings Bond. It collects interest all on it's own.

You don't have to put it in a bank or anything else.

When you want to CASH it in, just take it to the bank.

All depends on HOW LONG ago she purchased the bond will you know its maturity value.



Buying Paper EE Bonds

Sold at half their face value; i.e., you pay $25 for a $50 bond but it's not worth its face value until it has matured.
Purchase in denominations of $50, $75, $100, $200, $500, $1,000, $5,000, and $10,000.
$30,000 maximum purchase in one calendar year.
Issued as paper bond certificates.
If you redeem EE/E Bonds in the first 5 years, you'll forfeit the 3 most-recent months' interest. If you redeem them after 5 years, you won't be penalized.

Answer 2

You CAN'T put a savings bond in a bank. It already is earning interest. The rate stinks, but it is earning interest. If you wish to cash it and do something else with the money, take the bond to any bank.

Note: A $1500 savings bond was purchased for $750. It is NOT worth exactly $1500.

Answer 3

That's a smart way to spend it. If it's willed as a savings bond there may be certain access contingencies (you may have to be 18, you may have to be a college student, etc.... just depends). The best thing to do at this point is find out who the bond is through or who is holding it for you (if it's a treasury bond, etc.) and him/her or ask one of their representatives.

Answer 4

what do mean by you don't know how to get to it? Do you have the bond itself?