What are the types or series of savings bonds?
Series EE bonds are accrual type bonds and are purchased at a discount, or less than the face amount of the bond. Interest accumulates and is paid as part of the bond’s redemption value when the bond is cashed. Series HH bonds are current-income type bonds and are issued at face amount. Interest is paid semi-annually by direct deposit to the bond owners checking or savings account. Series I bonds are accrual type bonds that are purchased at face amount. Interest accumulates and is paid as part of the redemption value when the bond is cashed.
