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US Savings Bonds

Important Information regarding Over-The-Counter Sales of Paper US Savings Bonds.
The US Department of the Treasury announced that it will end over-the-counter sales of paper savings bonds effective December 31, 2011. Somerset Trust Company will no longer accept applications for paper US Savings Bonds after December 31, 2011. 

You may purchase US Savings Bonds directly from the US Treasury using TreasuryDirect. Use the Savings Bond Calculator to determine the prefect bond for your needs.

FAQs for U.S. Savings Bonds


Question #1: What is a savings bond?
Answer: A savings bond represents a loan made to the United States. Bonds are registered securities backed by the full faith and credit of the United States. Unlike other types of investments, they cannot be sold or used as collateral.

Answer: 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.

Denomination (Face Value)
EE*, I
EE*, I
EE, I**
EE, HH, I**
*Not available through payroll savings plans or employer thrift, savings, vacations, 401(K) or similar plans.
**Available after May 1, 1999

Answer: Bonds earn interest until the original maturity date according to the terms and conditions established at the time they were issued. When a savings bond has reached its original maturity, it enters an extended maturity period. Extended maturity periods are generally ten years but can be shorter to complete an overall life span of 30 or 40 years. Bonds can continue to enter additional extended maturity periods and earn interest until final maturity.

Issue Date
Original Maturity
Final Maturity
Savings Notes
May 1967 – Oct 1970
4 years, 6 months
30 years
Series E Bonds
Dec 1973 – Jun 1980
5 years
30 years
June 1969 – Nov 1973
5 years, 10 months
30 years
Dec 1965 – May 1969
7 years
30 years
Jun 1959 – Nov 1965
7 years, 9 months
40 years
Feb 1957 – May 1959
8 years, 11 months
40 years
May 1952 – Jan 1957
9 years, 8 months
40 years
May 1941 – Apr 1952
10 years
40 years
Series EE Bonds
May 1995 – present
17 years
30 years
Mar 1993 – Apr 1995
18 years
30 years
Nov 1986 – Feb 1993
12 years
30 years
Nov 1982 – Oct 1986
10 years
30 years
May 1981 – Oct 1982
8 years
30 years
Nov 1980 – Apr 1981
9 years
30 years
Jan 1980 – Oct 1980
11 years
30 years
Series H Bonds
Feb 1957 – Dec 1979
10 years
30 years
June 1952 – Feb 1957
9 years, 8 months
29 years, 8 months
Series HH Bonds
Jan 1980 – present
10 years
20 years
Series E/EE Bonds and Savings Notes – Accrual Type—Please contact Somerset Trust Company for this information.

Answer: Yes. You may purchase US Savings Bonds using Treasury Direct