Do they earn any payable interest yearly?
4. Any other general info you can give me, as Im wholly unfamiliar with savings bonds. Your $500 U.S. Series EE Savings Bonds was purchased at 50% of its face amount or $250. There are two maturity dates for the bonds. The original maturity is 17 years after the issue date and the final maturity is 30 years after issuance. Because savings bonds earn a market rate of interest, it is not certain when it will reach its face value. However, if the market rate of interest is not sufficient for a bond to reach face value in 17 years, then the US Treasury will make a one-time adjustment to increase the redemption value to face value. These bonds do NOT pay interest. Interest accrues until redemption or maturity. For the first five years it earns a short-term rate of interest, which is 85% of the 6-month US Treasury bill yield. A new rate is effective each November and May first and reflects the markets rates for the August, September and October period and the February, March and April period
