July 1, 2003
A: FROM MENTOR ELIZABETH HINCHEY
IN RI
Hi Ashley-
You should check out the US Treasury Department's Savings Bond
web page at:
http://www.savingsbonds.gov/
It has answers to questions and tips for purchasing and redeeming
savings bonds. You will need to know what series your bond is
(it should
say right on the bond itself). The web site can tell you the
best time
to cash it- you must wait until it matures to get the entire
$100. Check
it out and happy saving!
********************
A: FROM MENTOR JOAN LUSK IN
RI
I'd like to know the answer to your question because I too have
a $100 bond that was a rebate on a lawnmower purchase many years
ago and I have more or less forgotten it! All our questions
ought to be answered at
http://www.savingsbonds.gov/
By using the savings bond calculator from this site (and
making the assumption that the bond was series EE and bought
in May of 1988) I learned that it's making 4% interest, originally
cost the rebater $50, currently is worth $114.48 and "matures"
in May of 2018. So I guess I'll continue to leave it alone;
4% is not a bad rate in today's market and I don't need the
money right now. Thanks for pushing me into looking this stuff
up! You can do the same with your bond and find out its interest
rate, what it's worth now, and when it will be worth the whole
$100 face value. I also learned that you can cash the bond
in at any bank.
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