The U.S. Department of the Treasury offers two savings bonds: Series EE and Series I.
Understanding how each one works, along with the corresponding interest rate and how to buy, will help you make an informed and confident investing decision.
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Series EE Bonds
Series EE Bonds are a secure investment option with specific characteristics and rules for redemption.
Bonds issued between Nov. 1 and April 30, 2024, offer a 2.7% interest rate. A notable feature of Series EE Bonds is their guarantee to double in value within 20 years, providing a stable, long-term growth opportunity.
These bonds are issued electronically and can be purchased through a TreasuryDirect account.
While you have the flexibility to cash in EE bonds after one year, it’s important to note that redeeming them within the first five years incurs a penalty. This penalty equates to losing the interest of the last three months. Holding onto these bonds for at least…
