Is a saving bond a good gift to give for a grade school grad?

I believe that you should take your money and go to a bank like Capital One and open a high interest (5%) free checking account. Open it in both of your names, and don't tell the child about it until later. Then show them the benefits of saving. Once you put a little money in, it becomes addictive to hit $100.00, then $1000.00, and so on. Teach them how to manage the money, rather than make it untouchable. That is the point right? To teach them to be responsible. Good Luck!!

I think a savings account at a bank, or a brokerage account would be a good present. But most importantly, the best gift you can give a grad from any school is your attention and respect.

you can actually cash it in early, but its less. If they graduated from the lower level school ie 5,6,7,8, be aware that it can take 7 years for the bond to mature. It may be better for you to start them a banking account or something like that and make it so they cant touch it until college, or whatever... but cash is not wise to give, they will spend it without reguard to its value

Yes that is a good gift idea. They won't be able to spend it and they have a steady interest rate.