Can you turn in a savings bond prematurely?

Question

IM teenager and got a 100 doller savings bond and i need 50 dollers now. Since the person i got it from paid 50 dollers fo it can i just go to the bank and get the 50 dollers for it now?

Answer 1

Take it to any bank after 6 months.

Answer 2

You must hold on to the bond for at least one year.  After a year, you can cash it in.  However, it takes many years for bonds to reach maturity which means that the bond will not be worth $100 for some time, or even $50.  There is also a penalty for cashing in the bond before 5 years is up.

Answer 3

You should keep it and get your $50.00 another way....

Answer 4

Once it is 6 months old, you can cash it.

Answer 5

You will pay a penalty if you turn it in early.  Do yourself a favor and hang onto it.