New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance

  Ask Dr. Don By Don Taylor, Ph.D., CFA, Bankrate.com    

Your savings bonds are still good

Dear Dr. Don,
I have some savings bonds from 1983. My bank has informed me that it is no longer cashing bonds in. I have two questions. The first is: Would bonds issued in 1983 still earn interest today? The second question is: How should I go about cashing in my savings bonds?
-- Amy Accrue

Dear Amy,
I'll assume that you own Series EE savings bonds issued in 1983. Such savings bonds will continue earning interest through 2013, or 30 years from the date of issue. The Bureau of Public Debt has a savings bond calculator on its Web site that will allow you to input the issue date and denomination. The calculator will return the bond's current value and tell you when the bond stops earning interest.

- advertisement -

Older Series EE savings bonds, like yours, have interest earnings credited every six months. If you cash in the bond just before it increases in value, you'll lose the last six months' worth of interest. It's best to redeem your Series EE savings bond just after it has increased in value. The Bureau of Public Debt has a page on its Web site that discusses "When Savings Bonds Increase in Value."

Your bank should have been able to point you to a bank in your area that redeems savings bonds. Ask again the next time you're at the bank. The Bureau of Public Debt doesn't maintain a list of banks that will redeem savings bonds.

You can write or call the branch of the Federal Reserve Bank that handles savings bond transactions in your area. The Bureau of Public Debt has a Web page that allows you to input your zip code to locate contact information for the Federal Reserve Bank branch that can help you.

-- Posted: Sept. 21, 2004

  More questions from Dr. Don

Looking for more stories like this? We'll send them directly to you!
top of page
See Also
Idle savings bonds losing interest
What's the best time to cash in savings bonds?
Financial advice glossary
More Dr. Don stories

Print   E-mail

CDs and Investments
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
1 yr CD 0.90%
2 yr CD 1.02%
5 yr CD 1.59%



RELATED CALCULATORS
  How long will your savings last  
  How to reach a savings goal -- with scheduled payments  
  Watch your savings grow with regular deposits  
VIEW ALL 
BASICS SERIES
CDs and Investing Basics
Set your goals with an investing plan.
Develop a savings plan
Every kind of CD explained
Treasury bonds and more
Pros and cons of annuities
All about IRAs
Bank or credit union?
Best rates for CDs, more

MORE ON BANKRATE
CD rates in your area  
Bankrate's Top Tier Award for best quarterly CD and MMA performers  
Track the prime rate, other leading rates  
Savings basics


- advertisement -
 
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2014 Bankrate, Inc., All Rights Reserved, Terms of Use.