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As I was cleaning out my old filing cabinet (OK, OK my wife was cleaning it out!!) she found a bunch of Series EE Savings Bonds that my grandmother bought for our daughter 5 years ago. I don't have a clue how these things work. When do they mature? Can they be cashed prior to this? At what price? And finally, what is their value? I mean they say $50 right on them, but how do I know what interest they are earning?

Thanks!!!

Mitch

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Go to www.treasurydirect.gov. There is a program called The Savings bond wizard. It will keep track of the interest rates on the bonds (the website lists interest rates for all EE and HH bonds), their final maturity, and how much they are currently worth.

Their final maturity is 30 years from when they were bought. You can cash them in earlier than that at a bank. You buy them at half their face value so a $50 bond cost $25. I just cashed in a $50 bond that I won in the 7th grade (1987). As of last month it was worth $55. It took about 14 years for mine to reach face value while earning around 6.25%. The treasury website has all the info you need on EE, HH, and I bonds.

Jen
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To add to jennlgreen's response: there is a penalty for cashing these before 5 years, so if you do so, make sure they actually are 5 years old, rather than 4 years 11 months.
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