U.S. Savings Bonds Update
As of January 1, 2012, paper savings bonds will no longer be sold at financial institutions. This action supports the Treasury's goal to increase the number of electronic transactions with citizens and businesses and is expected to save American taxpayers approximately $70 million over the first five years.
Savings Bonds, first introduced in 1935, are not being eliminated. Series EE and I savings bonds will remain available electronically at TreasuryDirect, a secure website, operated by Public Debt. This service has been available since 2002.
Opening a TreasuryDirect account is free, and once established, allows investors to:
- Buy, manage, and redeem Series EE and I electronic savings bonds.
- Convert Series EE and I paper savings bonds to electronic bonds.
- Purchase electronic savings bonds for gifts.
- Enroll in a payroll savings plan for purchasing electronic bonds.
- Invest in other Treasury securities such as bills, notes, bonds, and TIPS (Treasury Inflation-Protected Securities)
Any paper savings bonds that have already been issued can continue to be redeemed at financial institutions. Bonds, which have not matured, but were lost, stolen, or destroyed, can be reissued either in paper or electronic form.
For more information about the elimination of paper savings bonds and how to enroll please see a Personal Banker or please visit www.treasurydirect.gov.