Welcome to Savings Guide
High Interest Savings Account Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Knowing the US Savings Bonds
from:Introduction
The government of any state or country always strives to offer enhanced and lucrative services to their citizens to encourage investments. The US savings bonds are one such form of investment options offered by the US Treasury, with the aim of funding the government's borrowing needs and also encourage savings and investments.
Key Aspects
The US savings bonds are basically defined as debt securities which are issued by the US Department of the Treasury, also termed as obligations of the US government. The most significant aspect of these bonds is that they are exempt from state and local income taxes.
These US savings bonds can be easily purchased from commercial banks or through an employer by payroll deductions. Consequently, these bonds can also be redeemed at many of the banks or alternatively, directly with a branch of the Federal Reserve Bank. The fastest way to encash a bond is to use your own bank, credit union or savings, though some documentation might be required for the purpose.
Another aspect about the US savings bonds, which is important to know, is that at the time of purchase, these bonds can be registered to a single person, to two people or can be registered to a primary owner and a beneficiary. Besides, the interest from the US savings bonds can also be excluded if used to pay higher education expenses, such as the likes of college tuition.
There are two main types of US savings bonds which are currently being issued. Below, we have given a brief description of each one of these.
1. I Bonds – These bonds are issued either on paper or electronically. Purchased at face value denomination, the minimum purchase amount is $50 for a bond issued on paper, $25 for a bonds purchased electronically, via Treasury Direct. These bonds are an accrual-type security, which means that the interest is added to the bond monthly.
2. Series EE Bonds – These bonds are issued on paper as well as electronically. Paper bonds are purchased at half their face value or denomination, while the electronic bonds are purchased at face value. The minimum purchase amount is $25 for a $50 paper bond and $25 for an electronic bond, from Treasury Direct.
For both the Series I as well as the Series EE US savings bonds, the interest can be deferred or declared on your taxes annually.
In case, your US savings bonds are lost, stolen, destroyed or mutilated, you are required to furnish a prompt notice to the Department of Treasury with all the possible details of the bonds, which will then be replaced accordingly.
1
High Interest Savings Account Specific links
High Interest Savings Account News
Benefits of Easisave promoted in Malta and Gozo
The benefits of Easisave, FIMBank plc’s high interest online savings account, will be promoted in Malta and Gozo during the next five weeks.
Read more...Can I trust this bank offering a good rate?
Dear Dr. Don,I'm looking at a particular bank and am wondering if it's a good place to have a savings account because of the interest rate. I have about $20,000 that I want to place there for the sole ...
Read more...Passbook Savings Loans are Secured by Savings, CD Balances
Borrowing against your own cash and paying interest on that loan might seem counterintuitive, but savings account customers across the country are doing just that.
Read more...High-Yield Checking Account Rates Still Rockin'
Rewards checking offers a higher return than other safe havens. Find out how much and why.
Read more...Barclays Introduces New Online Savings Account and Certificate of Deposit in the U.S.
To help Americans achieve their savings goals, Barclays Bank today introduced a new, online, high-yield savings account and certificate of deposit . U.S. consumers can now earn
Read more...