H Savings Bonds
||Referred to as 'current income bonds'.
||Denominations Available: $500, $1,000,
$5,000, and $10,000.
||Issued: first offered on June
1 1952 - December 1979, replaced by Series HH bonds on January 1, 1980.
||Purchased at face value by cash at first but most
were exchange for the equal value of E bonds or Freedom Shares/Savings Notes.
||Reaches final maturity 30 years from issue date.
||Series H bonds were issued only in registered,
definitive form and are not transferable.
||Can cash them in anytime after six months from
Series H bonds are current-income bonds that pay interest semiannually
by check or wire transfer through the Automated Clearing House. Series H bonds entering an
extended maturity period on or after March 1, 1993, earn 4 percent per annum, paid
Visit our rates page for the current interest
Series H bonds were first offered on June 1, 1952, as a companion to Series E bonds for investors who preferred to receive current
income. They were replaced by Series HH bonds on January 1,
A Series H bond became eligible for redemption at par at any time after
6 months from its issue date at certain Federal Reserve Banks.
We will accept a request to delay redemption where bonds are surrendered for redemption in
the month prior to an interest payment date, if the holder specifically requests the
delay. We will not accept a request for delayed redemption if it is received more than one
month before the interest payment date.
Series H bonds issued from June 1952 through January 1957 had an
original maturity period of 9 years, 8 months. Those issued from February 1957 through
December 1979 had a 10-year original maturity period. This rate was fixed -
there is no market rate on H bonds. All Series H bonds were granted two
10-year extended maturity periods. Immature and matured Series H bonds can be exchanged
for Series HH bonds.
Federal income tax:
Interest on Series H bonds is reportable for Federal income tax
purposes in the year in which it is earned. Investors who had elected to defer reporting
interest accruals on Series E bonds and savings notes for Federal
income tax purposes were permitted to continue the deferral as long as the accrued
interest was included in the purchase price of Series H bonds received in exchange.
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