December 14, 2008 |
Looking for cash to tide you over during these lean times? The Treasury Department is urging Americans to quiz their parents and grandparents this holiday season about whether they squirreled away U.S. savings bonds that have stopped earning interest. The reason: About $16 billion of these bonds haven't been redeemed. The government suspects that the owners have either died or forgotten about the investments that they bought in the 1940s, '50s, '60s and '70s.
July 23, 2006 |
A homeless man searching for returnable bottles in a trash bin in Detroit found 31 U.S. savings bonds worth nearly $21,000 in a bag of clothes. Charles Moore, 59, took the bonds to a 24-hour walk-in homeless shelter, where a staffer tracked down the family of the man whose name was on the bonds. "They belong to him," Moore told The Detroit News. "I did the right thing." Ernest Lehto's family had given away many of his clothes after his death in 2004.
May 2, 2006 |
U.S. Series EE Savings Bonds issued between now and Oct. 31 will earn a fixed annualized interest rate of 3.7% for their life, up from 3.2% on bonds issued in the previous six months, the Treasury said Monday. The Treasury changes the rate on new bonds every six months, based on market interest rates. The annualized rate on Series EE bonds issued from May 1997 through April 2005 will be 4.11% for the next six months, up from 3.61% in the previous six months.
December 4, 2005 |
A near-7% return on a U.S. government bond? It may sound like a scam, but it's real -- for a while, at least. The Treasury's inflation-adjusted savings bonds, known as Series I bonds (or just "I bonds" for short), currently pay an annualized return of 6.73%. That rate applies to bonds purchased between Nov. 1 and April 30. I-bond rates have two components: a fixed return and a variable return. The fixed return, now 1%, is set for the 30-year life of the bond.
August 28, 2005 |
Jack Quinn got interested in savings bonds several years ago when he found a forgotten stack of them in the bottom of a drawer. Now, he runs a company that provides consumers with information about the venerable U.S. government savings program, which offers an investment that is widely misunderstood. And he's urging Americans to search through their papers and safe deposit boxes to unearth old savings bonds as he once did. The reason: An astounding $13.
April 5, 2005 |
The U.S. Treasury said Monday that it would end a program that assured buyers of Series EE savings bonds an automatic earnings boost in times of rising market interest rates. The change is a sign that the government expects rates to keep climbing -- as they have for the last year -- and is seeking to save taxpayers money at the expense of savings bond buyers, some analysts say. Series EE bonds are popular with people of limited means because they can be purchased for as little as $25.