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Claremont Savings Bank Article
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What is a Savings Bond?
from:Introduction
The government and authorities of the United States offers it citizens a vast number of opportunities for savings and enhancement of their income. From high-interest investments to those with a moderate-level interest but secure investments, such schemes have all sorts of saving opportunities to its citizens, a savings bond being one of the most popular of its kind.
By definition, a savings bond is basically a debt security, issued by the US Department of the Treasury in order to fund the U.S. government’s borrowing needs.
Categories of Bonds
Though the categories might undergo a change over a period of time, yet at the present there are three main categories of a savings bond in the US.
Below, we’ve included a brief description of each one of these.
a) SERIES EE BONDS – This type of a savings bond is purchased at a discount of half to its face value. The government places an upper limit of the bonds worth $5,000 (at face value) in a particular year, for this category of a savings bond.
b) SERIES OF HH BONDS – A savings bond belonging to this category can only be purchased in exchange of the Series EE or E bonds, Savings notes or with the proceeds of a matured Series HH bonds.
c) SERIES I BONDS – This type of a savings bond is sold at face value and grows with the inflation-indexed earnings for period going upto 30 years.
The Benefits
A savings bond is associated with a vast series of benefits for its customers. Here we’ve briefly listed the main benefits associated with the purchase of a savings bond:
i) Extremely safe and secure, having full government faith and support
ii) Federal taxes on the interest amount can be deferred till the time the buyer actually cashes in the bond
iii) Such a savings bond is exempt from the state and local taxes, augmenting the customers savings even further
iv) As they are registered with the U.S. Treasury’s Bureau of Public Debt, this type of a savings bond can be easily replaced in case it is lost, stolen, destroyed or mutilated.
In addition, these bonds can be easily purchased from the commercial banks or through an employer by payroll deductions. These bonds can also be redeemed at many of the banks or alternatively, directly with Federal Reserve Bank. Such type of a savings bond can also be registered to a different set of people, in capacities including individual, joint and other forms of partnership.
Having a comprehensive support system form the government, a savings bond is surely one of the safest and trustworthy forms of investments in the US.
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Claremont Savings Bank Specific links
Claremont Savings Bank News
Claremont's center: Rejected generosity? - The Union Leader
Claremont's center: Rejected generosity? The Union Leader Seven years ago, the city accepted a $3 million grant for the center from Claremont Savings Bank. In exchange for that hefty sum, the center was to be named the Claremont Savings Bank Community Center. The city kicked in $1 million, and another $5.5 ... |
NH community center name under fire - Boston.com
NH community center name under fire Boston.com CLAREMONT, NH—The name of a community center is drawing some opposition in a New Hampshire city. The center under construction in Claremont is known as the Claremont Savings Bank Community Center. The bank offered the city $3 million toward ... |
NH community center name under fire - Boston.com
NH community center name under fire Boston.com The name of a community center is drawing some opposition in a New Hampshire city. The center under construction in Claremont is known as the Claremont Savings Bank Community Center. The bank offered the city $3 million toward construction. |
NH city councilor resigns following email exchange - Boston.com
NH city councilor resigns following email exchange Boston.com The emails stemmed from an email to councilors saying Claremont Savings Bank had been embarrassed by a public discussion over the naming of the town's community center, now under construction. The bank donated $3 million toward the cost, ... |
13 NH companies receive job training funds - BusinessWeek
13 NH companies receive job training funds BusinessWeek Also, S&H Land Services of Manchester; Methuen Construction Company in Salem; Harvey Construction Corp. in Bedford; The Keeney Manufacturing Company of Winchester; SAFRAN of Rochester; and Claremont Savings Bank of Claremont. |