Question:

Question about savings bonds?

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I opened an online TreasuryDirect account about 4 or 5 years ago and purchased a few EE and I bonds. I'm strapped for cash right now so I was wanting to know if I would be able to cash those and what the process of doing so would be?

Since it's all been done online could I just cash it through them or do I still need to go to a bank? I'd assume it could just be a direct deposit back into my account as that was the way I put the money into the bonds? Please let me know, thanks!

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2 ANSWERS


  1. According to TreasuryDirect:

    "To redeem electronic bonds purchased in TreasuryDirect, log in and follow the on-screen directions. Your checking or savings account will be credited with the redemption amount within one business day of the redemption date."


  2. The bonds aren't going to be worth squat. I believe the EE series takes 20 years to mature. You can type in savings bond calculator in your search bar and it will let you type in the serial numbers and tell you how much the bank will give you for them. You will have to claim the bonds on your taxes (I think the interest) next year. I just took mine into a regular bank branch and they cashed them right there.

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