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Best place to purchase I-Bonds
Old 12-02-2005, 03:12 PM   #1
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Best place to purchase I-Bonds

As this will be my first time doing so, can anyone tell me the best place to purchase I-Bonds? (least expense) I know you can apparantly buy them at the bank, directly from Fed. How does that work - buying them directly? Is it cheaper than going to bank?

Also, how stiff is the penalty for cashing them prior to the five year period?
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Re: Best place to purchase I-Bonds
Old 12-02-2005, 03:24 PM   #2
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Re: Best place to purchase I-Bonds

Redemption Information
Minimum term of ownership: 1 year
Interest-earning period: 30 years
Early redemption penalties:
Before 5 years, forfeit 3 most recent months'interest
After 5 years, no penalty

Buy them from Treasury Direct and keep them as electronic bonds.
http://www.treasurydirect.gov/
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Re: Best place to purchase I-Bonds
Old 12-02-2005, 05:39 PM   #3
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Re: Best place to purchase I-Bonds

There is no charge for I Bonds at the bank, fill out a short order form, give the teller the money and you receive a paper bond in the mail in about 10 days.

I like Treasury Direct, do a Google search, set up an account, put in your checking account number and buy I bonds online, you do not receive the bonds it is all in book form (electronic) but you can buy and redeem this way. You can also buy T-Bills (6 month) in your Treasury Direct account.
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Re: Best place to purchase I-Bonds
Old 12-02-2005, 10:09 PM   #4
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Re: Best place to purchase I-Bonds

Thank you both for that information.
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