Welcome to Savings Guide
American Savings Bank Hawaii Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What is a Savings Bond?
from:Introduction
The government and authorities of the United States offers it citizens a vast number of opportunities for savings and enhancement of their income. From high-interest investments to those with a moderate-level interest but secure investments, such schemes have all sorts of saving opportunities to its citizens, a savings bond being one of the most popular of its kind.
By definition, a savings bond is basically a debt security, issued by the US Department of the Treasury in order to fund the U.S. government’s borrowing needs.
Categories of Bonds
Though the categories might undergo a change over a period of time, yet at the present there are three main categories of a savings bond in the US.
Below, we’ve included a brief description of each one of these.
a) SERIES EE BONDS – This type of a savings bond is purchased at a discount of half to its face value. The government places an upper limit of the bonds worth $5,000 (at face value) in a particular year, for this category of a savings bond.
b) SERIES OF HH BONDS – A savings bond belonging to this category can only be purchased in exchange of the Series EE or E bonds, Savings notes or with the proceeds of a matured Series HH bonds.
c) SERIES I BONDS – This type of a savings bond is sold at face value and grows with the inflation-indexed earnings for period going upto 30 years.
The Benefits
A savings bond is associated with a vast series of benefits for its customers. Here we’ve briefly listed the main benefits associated with the purchase of a savings bond:
i) Extremely safe and secure, having full government faith and support
ii) Federal taxes on the interest amount can be deferred till the time the buyer actually cashes in the bond
iii) Such a savings bond is exempt from the state and local taxes, augmenting the customers savings even further
iv) As they are registered with the U.S. Treasury’s Bureau of Public Debt, this type of a savings bond can be easily replaced in case it is lost, stolen, destroyed or mutilated.
In addition, these bonds can be easily purchased from the commercial banks or through an employer by payroll deductions. These bonds can also be redeemed at many of the banks or alternatively, directly with Federal Reserve Bank. Such type of a savings bond can also be registered to a different set of people, in capacities including individual, joint and other forms of partnership.
Having a comprehensive support system form the government, a savings bond is surely one of the safest and trustworthy forms of investments in the US.
??
??
??
??
1
American Savings Bank Hawaii News
American Savings Bank Reports First Quarter 2012 Earnings
HONOLULU, April 30, 2012 /PRNewswire/ -- American Savings Bank, F.S.B. (American), a wholly-owned indirect subsidiary of Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today reported net income for ...
Read more...Hawaiian Electric Industries Reports First Quarter 2012 Earnings & Declares Dividend
HONOLULU, May 8, 2012 /PRNewswire/ -- Hawaiian Electric Industries, Inc. (NYSE - HE) (HEI) today reported consolidated net income for common stock for the first quarter of 2012 of $38.3 million, or $0.40 diluted earnings per share (EPS), compared to $28.5 million, or $0.30 diluted EPS...
Read more...Federal Home Loan Bank of Seattle Announces New Appointment to Board of Directors
The Federal Home Loan Bank of Seattle today announced the appointment of David P. Bobbitt of Coeur d’Alene, Idaho, to serve on the Seattle Bank’s Board of Directors
Read more...New charges for Kula man for numerous cash deposits
A Kula man arrested earlier this year for allegedly impersonating a federal agent is facing additional charges related to more than $314,000 in cash deposits in bank accounts over a three-year period. In a superseding indictment filed Thursday in U.
Read more...American Assets Trust, Inc. Reports First Quarter 2012 Financial Results
Company Release - 5/1/12SAN DIEGO - American Assets Trust, Inc. (AAT) (the "Company") today reported financial results for its first quarter ended March 31, 2012. Financial Results and ...
Read more...