When can I redeem a savings bond?

• Savings bonds are available for redemption six months after purchase.  Redemption within the first five years will result in a forfeiture of 3 months of interest.

Do I have to pay income tax on the interest earned on savings bonds?

• Savings bonds are exempt from state and local income tax. Federal income tax may be deferred until you redeem the bonds or the maturity date (30 years). Bonds may be exempt from federal income tax if used to pay qualified higher education expenses or to roll over into a qualified 529 plan.

How long will my savings bond earn interest?

• The bonds can continue to earn interest for 30 years from the date of issue.

How do I find out what the current interest rate is on savings bonds?

• Visit www.savingsbonds.gov or call the U.S. Treasury at 1-800-245-2804 for current Savings Bond rates.

Can I give a savings bond as a gift?

• Yes, you may purchase a savings bond as a gift.

How do I purchase a savings bond?

• You will need to purchase savings bonds electronically through the Treasury Direct website.  Ohio Catholic is able to redeem (cash) savings bonds.