Best day to buy a Savings Bond
Thursday, February 23rd, 2006
Categorized as: Buying US Savings Bonds
Did I read somewhere that the best day to buy a Savings Bond is the last day of the month?
When you buy a Savings Bond, you will earn interest for the entire month of issue no matter which day of the month you buy it on. So you get the equivalent of a free month’s worth of interest if you purchase on the last day of the month.
However, you also need to know that when you buy at a bank, your Savings Bond is issued as of the date you complete the bank transaction.
On the other hand, when you buy electronic bonds through TreasuryDirect, the bond is issued on the day the Treasury gets the money from your bank, so it’s better to schedule TreasuryDirect transactions a few days before the end of the month.