How to Buy U.S. Government Bonds in the Bank
The U.S. government uses savings bonds to borrow money from individuals and business entities. Currently, it is one of the safest investments because the government completely guarantees them. Savings bonds accrue interest until maturity while allowing the owner to defer taxes.
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How to Purchase Savings Bonds at the Local Bank
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The U.S. Treasury, banks and brokers can sell savings bonds. You can purchase a bond at your local bank. Fill out an application for the appropriate bond type. Present the application to the customer service representative with your payment. You can buy EE series bonds at half of their face value, i.e. $50 cost is $25. I series bonds cost the full face value. The bank will mail the application to the U.S. Treasury. You will receive the bond papers within three weeks.
How to Purchase Savings Bonds from the Bank Over the Phone
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Some banks offer bond purchase over the phone. Call your bank's customer service and request to purchase a bond. The representative will fill out an application on your behalf, deduct money from your account and mail the application to the U.S. Department of Treasury. You will receive the bond papers within three weeks.
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Who Can Buy and Own Bonds
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Any U.S. citizen or lawful permanent resident with a U.S. address who has a Social Security number can own savings bonds. Civilian employees of the U.S. government who reside in other countries are also eligible. Minors can own savings bonds. If you are purchasing a gift bond, you will need the individual's full name and Social Security number. You will need his mailing address if you want the bond mailed directly to him. Otherwise, you will receive the bond papers.
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