E BONDS
| EE BONDS | I BONDS | HH BONDS | OLDER BONDS
10 Things You Should Know About the "Patriot Bond"
(on sale beginning mid-December 2001)
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Purchased over-the-counter and via internet (Buy them right now ONLINE! Click Here!)
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Series EE bonds will be inscribed with "Patriot Bond" title - making them no different from actual EE bonds
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Purchased for half its face value - Increase in value monthly and interest is compounded semi-annually
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Current yield is 1.40%- effective until April 2002 (same rate as EE bonds)
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Available in denominations: $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000
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Maximum annual purchase limit is $15,000 ($30,000 face value) per person
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Guaranteed to reach initial maturity (face value) in 17 years - however - there is a 3-month interest penalty if the bond is redeemed before 5 years
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Will reach final maturity (completely stop earning interest) in 30 years
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There is no state or local income tax on the interest earned
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Interest earned could be tax exempt if used for education purposes (see education bond details)
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 Special Note: The proceeds of the Patriot Bond will go into the Treasuries General Fund and are not specifically earmarked for the war. Monies for the war and other federal government spending also draw from this general fund, which may contribute to fighting the war on terrorism. At this time, economists are urging people to spend to help spark the economy rather than save with war bonds.
Looking to buy them right now?: Treasury Dept. released the new Patriot Bond on the morning of Tuesday, December 11th 2001 to coincide with the 3 month anniversary of the terrorist attacks against the United States. Purchase Patriot Bonds Online Now!
History: After the September 11, 2001 Terrorist Attacks, Congress had passed three measures to issue war bonds. The House passed a stand-alone measure for "Freedom Bonds Acts" and then legislation had made some progress in the Senate. The Treasury decided to forge ahead and issue the war bonds.
What does it look like?:The Series EE Patriot Bond is identical to other Series EE bonds except that the words "Patriot Bond" are printed on the top half of the bond between the social security number and issue date. Take a look at the bond below.
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