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when can i use the interest i receive on I bonds and EEbonds?
so i was reading about bonds and stocks and all that staff.i just want to know if i buy I bonds or EEbonds, it says that it can only be redeemed after 12 months.so exactly what is it referring to? the interest or the principal? can i kind of use the interest i will collect after 12 months only with out taking out the Principal or what? some one please explain to me!
2 Answers
- John WLv 71 decade agoFavorite Answer
A bond consists of a certificate and a number of detachable coupons. The certificate can be redeemed for the face value of the bond on or after the maturity date. Each coupon is dated with a different redemption date, usually 2 to four times a year and is individually redeemable on or after that date for the interest payments. Usually the bonds are held by your broker and he redeems the coupons for you and simply deposits the interest payments into your money market funds of your portfolio.
- Anonymous1 decade ago
Both.
You must cash savings bond to get the interest paid to you. You cannot cash them for 12 months and you cannot cash them without penalty for 5 years.
If you want bonds that deposit interest into your bank account on a regular basis, you need to buy T-Bills, Notes, or Bonds from the website (savingsbond.gov).
