All Series E Savings Bonds now stinkers
Tuesday, June 1st, 2010
Categorized as: Savings Bond interest rates • Series E US Savings Bonds • Stinker bonds
Stinker bonds is the term used around here to describe a Savings Bond that is no longer earning interest. As of this morning, this includes all Series E Savings Bonds. The last Series E Savings Bond was issued in June 1980 and paid interest for 30 years. The last interest payment occurred last night.
It’s time to cash all Series E bonds and reinvest in something that pays interest. No, there are no rollover options. Yes, you will have to pay income tax on the interest your bonds have earned. No, you can’t change the name on the bond. No, you can’t give the bond to a charity, although you can cash the bond, give the money to a charity, and take a charitable deduction on your tax return.