My parents have a few thousand dollars of Series EE Bonds they purchased in March and April of 1993. It looks like each bond has a $200 face value. Can someone help me understand what the current interest rate is on these bonds?
If I fill in this form for 03/1993 I see a rate of 4%. (https://treasurydirect.gov/BC/SBCPrice)
Is that the current rate? If that is the case it makes sense for them to leave the bonds alone for another year. However, if the current rate is lower than .5% (what they can get in their Ally savings account) then I would tell to redeem the EE bonds and put the money in online savings or into I-Bonds.
Should they keep the EE bonds or redeem them? Thank you for any insight!
What is the current rate on EE Bonds from 1993?
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Re: What is the current rate on EE Bonds from 1993?
Not only is the current rate 4%, the rate will almost certainly continue to be 4% until those bonds mature in 2023.
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Re: What is the current rate on EE Bonds from 1993?
If I recall correctly, once the maturity date (30 years) has been reached, they will STOP paying interest, so there is no point in holding them longer than the maturity date.
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Re: What is the current rate on EE Bonds from 1993?
That's correct. They are guaranteed to pay 4% until they reach final maturity in 2023.FactualFran wrote: ↑Wed Jan 19, 2022 10:51 am Not only is the current rate 4%, the rate will almost certainly continue to be 4% until those bonds mature in 2023.
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Re: What is the current rate on EE Bonds from 1993?
Thank you all for confirming the rate! I'll let them to know to hold on to their EE bonds until 2023 and then redeem them to invest elsewhere.