How to cash in a savings bond

Written by ehow contributor
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Cashing in a savings bond is as easy as cashing a personal check. Here's how to do it.

Skill level:

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Things you need

  • Savings bond certificate
  • Financial institution
  • Identification

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  1. 1

    Call a bank, savings and loan institution or credit union to see if they cash savings bonds.

  2. 2

    Give the financial institution your bond information and allow them to compute the bond's value.

  3. 3

    Take a form of identification to the financial institution. The ID needs to match the name on the bond.

  4. 4

    Sign the back of the bond.

  5. 5

    Allow the institution to verify that it is your signature on the bond.

  6. 6

    Receive your savings bond payment.

Tips and warnings

  • You must have possession of the bond for at least one year before you may cash it. For example, if you purchased a savings bond in October 2007, it may not be redeemed until October 2008.
  • Cash in the savings bond if it has reached maturity. There is no value in holding onto it longer.
  • As of September 2004, one can't exchange Series EE/E bonds for savings HH/H bonds.
  • There will be a penalty if you cash in the savings bond prior to its fifth year anniversary.
  • When the bond reaches maturity, it stops earning interest.
  • You must pay tax on the interest earned by the savings bond.

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