Things You'll Need:
- U.S. Savings Bond
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Step 1
Wait until the bonds can be cashed penalty free. Bonds cannot be redeemed in the first year after their issue date, and may be subject to penalties if redeemed prior to five years, by losing some of the interest you've gained.
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Step 2
Call ahead. Most banks will cash in a savings bond without much of a hassle, but some may require certain documentation that you don't always carry. Call the bank first to see what you may need to bring.
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Step 3
Bring the bond to the bank. Taking a bond to a bank, credit union, or savings and loan that you have an account at is always preferred, but any will suffice. If your bank will not redeem the savings bond for any reason, you can take it to a branch of the Federal Reserve Bank, or mail it to them.
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Step 4
Be sure to redeem only savings bonds that are in your name. Savings bonds are non-transferable, so you can only redeem savings bonds that are yours. If you have a savings bond in your possession that is not in your name, you may not redeem it.
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Step 5
If you bought your savings bond electronically, you can redeem it electronically. The funds that you are due will be sent to your savings or checking account.
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Step 6
Bring only what you can cash at one time. You can only redeem $1000 at a time in most instances. If you want to redeem more than that, arrangements can be made at a local Treasury Retail Securities Site.
