How to Redeem Savings Bonds
Kiplinger's Personal Finance|September 2023
Whether you bought savings bonds during inflation’s peak last year or have older bonds collecting dust, take these steps to cash them in.
ELLA VINCENT
How to Redeem Savings Bonds

BASICS 

THANKS to rising in­ flation, Series I savings bonds have enjoyed a boom in popularity. I bonds issued from May 2022 through October 2022 earned a compos­ ite rate of 9.62% for the first six months, which prompted inves­ tors to stash more than $1 billion in I bonds in October alone. I bonds issued from May 2023 through October 2023 pay a com­ posite interest rate of 4.3% dur­ ing the first six months—a signifi­ cant drop but still an attractive return for a no­risk investment.

Although savings bonds can earn interest for up to 30 years, you may want to redeem them earlier. You can cash in I bonds, as well as EE bonds (which pay a fixed 2.5% rate for bonds is­ sued from May through Octo­ ber 2023), after you’ve owned them for a year. But if you re­ deem bonds within five years, you’ll lose the last three months of interest. Here are the steps you need to take if you’re ready to cash in your savings bonds.

This story is from the September 2023 edition of Kiplinger's Personal Finance.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 2023 edition of Kiplinger's Personal Finance.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM KIPLINGER'S PERSONAL FINANCEView All
HOW INFLATION ADJUSTMENTS WILL AFFECT YOUR TAXES
Kiplinger's Personal Finance

HOW INFLATION ADJUSTMENTS WILL AFFECT YOUR TAXES

We looked at IRS rules for 2025 on everything from tax brackets to how much you can save in retirement accounts.

time-read
3 mins  |
January 2025
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Kiplinger's Personal Finance

GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR

Scammers are getting better at impersonating legitimate businesses.

time-read
3 mins  |
January 2025
SHOULD YOU BUY PET HEALTH INSURANCE?
Kiplinger's Personal Finance

SHOULD YOU BUY PET HEALTH INSURANCE?

You can fend off big veterinary bills with a policy that covers your furry companion.

time-read
2 mins  |
January 2025
THE LOWDOWN ON BUYING A VACATION HOME
Kiplinger's Personal Finance

THE LOWDOWN ON BUYING A VACATION HOME

If you return to a beloved destination again and again, purchasing a home there may be a smart move-but don't overlook the costs and effort that go into it.

time-read
8 mins  |
January 2025
HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES
Kiplinger's Personal Finance

HOW COUPLES CAN MANAGE DIFFERING RETIREMENT TIME LINES

Staggered retirement is increasingly common, but it can create financial and emotional challenges.

time-read
7 mins  |
January 2025
AVOID THESE CREDIT MISSTEPS
Kiplinger's Personal Finance

AVOID THESE CREDIT MISSTEPS

KIPLINGER ADVISOR COLLECTIVE

time-read
2 mins  |
January 2025
WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF
Kiplinger's Personal Finance

WHAT YOU NEED TO KNOW ABOUT WORKING FOR YOURSELF

Whether you're looking for a side gig or planning to start your own business, it has never been easier to strike out on your own.

time-read
10+ mins  |
January 2025
My Top 10 Stock Picks for 2025
Kiplinger's Personal Finance

My Top 10 Stock Picks for 2025

SINCE 1993, I have offered an annual list of 10 stocks with the potential to beat the market in the 12 months ahead. My 2024 selections notched the highest return ever: an average of 48.9%. I beat the S&P 500 index by 10.8 percentage points, and every one of my stocks was up-six by more than 30%.

time-read
4 mins  |
January 2025
WHAT MAKES AN ETF SUCCESSFUL?
Kiplinger's Personal Finance

WHAT MAKES AN ETF SUCCESSFUL?

EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.

time-read
2 mins  |
January 2025
TIPS FROM INSIDERS
Kiplinger's Personal Finance

TIPS FROM INSIDERS

When corporate insiders buy or sell, it can offer clues on whether you should do the same.

time-read
4 mins  |
January 2025