HH/H Savings Bonds
Unlike EE bonds, HH bonds are current-income securities. You paid face value, and receive interest payments by direct deposit to your checking or savings account every 6 months until maturity or redemption.
Use HH bonds to:
- Supplement retirement income
|Current Rate:||1.5% (as of January 2003)|
|Denominations:||Were sold at face value. $500, $1,000, $5,000, $10,000|
|Issue Method:||Paper bond certificates|
Rates & Terms
- HH bonds were available only in exchange for Series EE/E bonds or upon reinvestment of matured Series H bonds.
- You paid face amount; i.e., a $500 HH bond sold for $500.
- HH/H bonds pay a fixed interest rate set on the day the bond was purchased.
- The interest rate changes to the current HH Bond rate on the tenth anniversary of the issue date.
- Minimum term of ownership: 6 months
- Interest-earning period: 20 years
- Interest earnings are exempt from State and local income taxes but are subject to Federal, State, and local estate, inheritance, gift, and other excise taxes.
- Interest earnings are subject to Federal income tax.
HH/H Bond-related FAQs
- When is interest earned on my HH/H bonds?
- Do I have to pay taxes on my interest earnings?
- How do I purchase an HH bond?