Welcome to Savings Guide
Bristol County Savings Bank Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Know All About US Savings Bond
from:Introduction
As an initiative to encourage, promote and develop a strong savings base, the US government introduces various attractive schemes for inviting investments from its citizens, which promote savings as well fund the government’s borrowing needs.
The US savings bond is one of such saving options offered by the government, having attractive interest rates, lucrative terms and easy application and payment options. In fact, the US savings bond is considered as one of the safest forms of investment in the US, as they have the full faith of and are supported completely by the US government.
The Concept
The US savings bond is basically a debt security, issued by the US department of the Treasury, also commonly referred to as the obligation of the government of the US. The main feature which attracts scores of investors is the fact the US savings bond is exempt from state as well as local taxes.
There are two main categories of a US savings bond that are currently being issued. Below, we’ve included a brief description of each one of these.
A) I Bonds – Issued either on paper or electronically, this type of a US savings bond is purchased at face value denomination, the minimum purchase amount being $50 for a bond issued on paper and $25 for a bond purchased electronically. Known as an accrual-type of security, the interest on this type of a US savings bond is added monthly.
B) Series EE Bonds – These bonds are also issued electronically as well as manually. While the paper bonds are purchased at half their face value, with limit of $25 for a $50 paper bond, the electronic bonds are purchased at face value of $25 from the Treasury Direct.
For both the Series I as well as the Series EE bonds, the interest can be deferred or declared on the taxes annually. In a situation where the US savings bond is stolen, destroyed or mutilated, the investor is required to intimate the Department of Treasury, furnishing all the possible details, so that the same can be replaced at the earliest.
To make this form of investment more investor-friendly, at the time of purchase the US savings bond can be registered to a single person, two people and alternatively, to a primary owner and a beneficiary. In addition, the interest accrued from the US savings bond can also be excluded if used to pay higher education expenses, such as college tuition.
In addition, the federal taxes on the interest amount can be deferred until the buyer cashes in the bond or stops paying the interest at maturity.
??
??
??
??
1
Bristol County Savings Bank News
Boo at the Zoo breaks attendance record - South Coast Today
Loading... Courtesy of Buttonwood Park Zoo A clever carver made this jack-o'-lantern with the visage of an owl. More than 5,700 people flocked to Buttonwood Park Zoo last weekend for Boo at the Zoo. The attendance set a new first-weekend record for ...
Read more...Where has all the bank-bailout money gone? - Times Online
On Friday, Ken Robins decided to tell the government what was happening in the real world. The entrepreneur, who runs a successful coach firm in Bournemouth, wrote to Lord Mandelson, the business secretary, to set out just how tough the banks are ...
Read more...Holiday Happenings - Abington Mariner
Wednesday, Dec. 3 Holiday Boxwood Workshop. 10 a.m. to 12 p.m. or 7 to 9 p.m., South Shore Natural Science Center, 48 Jacobs Lane, Norwell. Learn to create holiday centerpiece. Cost is $27 for members or $32 for non-members. The workshop is geared ...
Read more...House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
Read more...Contractors are using more energy-saving materials, techniques - Providence Journal
Daniel Paquette walks along the Cumberland house’s front deck, which is made from recycled composite materials. The Providence Journal / John Freidah The developer converting a historic bank building into a hotel in downtown Providence installs ...
Read more...