Savings
Bonds:
U.S. Savings Bonds earn competitive interest rates and are safe
because the full faith and credit of the United States backs them.
The interest earned on Bonds is exempt from state or local income
taxes, and Federal tax can be deferred until a Bond is cashed or
reaches the end of its interest-bearing life (30 years). For more
information, see the Savings Bonds website at: http://www.savingsbonds.gov/.
EE Bonds:
Series EE savings bonds are securities that accrue interest (that
is, increase in value) until it is cashed or reaches final maturity
in 30 years. Click
here to read more on EE Bonds.
I Bonds:
Series I Bonds are an accrual-type security-meaning that interest
is added to the bond monthly and paid when the bond is cashed. I
Bonds are sold at face value-you pay $50 for a $50 bond-and they
grow in value with inflation-indexed earnings for up to 30
years.
Click
here to read more on I Bonds.
How to Manage Your Bonds:
myPay will allow you to start and change your Savings Bonds. You
should use either a paper form or myPay to make Savings Bond
changes, not both.
To Start or Change a bond, you need the following information:
-
Bond owner's name and
Social Security Number
-
Mailing address for the
bond
-
Name of the Co-owner or
Beneficiary, if any. Please note: There is a limit of one Owner and
one Co-owner or Beneficiary per bond.
Important Note
- Bond allotment:
The allotment on a bond will
continue until it is stopped by the member. In order to stop an
allotment, the member will need to fill out form DD2559
.
