U.S. Savings Bonds are a great way to invest and save! They have the backing of the full faith and credit of the U.S. government and the interest they pay is free from state and local (but not federal) income taxes. The Bank of Fincastle offers Series EE bonds, which you can buy for as little as $25 apiece. They are issued at half their face value. When you buy a $100 bond, for instance, you pay $50 for it. They have a maturity date, accrue interest from the date of purchase and you can redeem them at any time after one year.
The Bank of Fincastle also offers Series I bonds which are purchased at face value and carry a fixed rate and a variable rate. Series I bonds have a maturity date, accrue interest from the date of purchase and you can redeem them at any time after one year.
Under certain circumstances the interest can be tax deductible for educational purposes.
U.S. Savings Bonds make great gifts!
To find out more about our Savings Bonds give us a call at 473-2761 or visit any branch.
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Equal Housing Lender
