Everything you need to know about Series H Savings Bonds

Last Updated: March 5, 2019 | by Jackie Brahney | reviewed by Jack Quinn

H Savings Bond

Series H Savings Bonds work differently  from E, EE or I Savings Bonds. Learn where to obtain cash-in values, interest rates and if they are still earning interest.

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What Are Series H Savings Bonds?  

Series H Savings Bonds were an alternative to those who wanted to receive current income. They are often referred to as  “Current Income Bonds” and also as a companion to Series E Bonds. They were available, first for cash, then for exchange for Series E bonds, and Savings Notes. However, the E bond or Savings Notes must have been outside one year from its final maturity date.

H Bonds were replaced by Series HH bonds on January 1, 1980. HH Bonds are no longer available for purchase or exchange.

Use a complimentary Savings Bond Calculator to find out exactly what your bonds are worth and how much interest you earned.

How Do Series H Bond Work?

A series H bond became eligible for redemption at par at any time after 6 months from its issue date.  

The Treasury Department accepted  requests to delay redemption when other eligible savings bonds were surrendered for redemption in the month prior to an interest payment date, if the holder specifically requested the delay.

The Treasury will not accept a request for delayed redemption if it is received more than one month before the interest payment date.

  • Offered June 1952-December 1979.
  • Denominations Available: $500, $1,000, $5,000, and $10,000.
  • Purchased at face value by cash at first but most were exchange for the equal value of E bonds or Freedom Shares/Savings Notes.
  • Reached final maturity 30 years from issue date.
  • Eligible to be cashed in anytime after six months from issue date.
  • Treasury will accept a request to delay redemption where bonds are surrendered for redemption in the month prior to an interest payment date.
  • H Bonds were replaced by Series HH bonds on January 1, 1980.
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What Are My Bonds Worth?

H bonds were purchased for face value (either for cash or exchanged for E Bonds or Savings Notes.

The SavingsBonds.com complimentary savings bond calculator will value paper U.S. Savings Bonds issued since 1941. If you own paper E, EE or I Savings Bonds, use the SavingsBonds.com calculator to receive complimentary savings bond values, which also includes a printable, detailed Savings Bond Inventory Report.

How Is Interest Posted on Series H Bonds?

Series H bonds are current-income bonds that pay interest semiannually via check or wire transfer through the Automated Clearing House (ACH).  Series H bonds that entered an extended maturity period on or after March 1, 1993, earned 4 percent per annum, paid semiannually.

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When Do H Bonds Mature?

  • June 1952  – January 1957 H Bonds had an original maturity period of 9 years, 8 months
  • February 1957 – December 1979 had a 10-year original maturity period.
  • All Series H bonds were granted two, 10-year extended maturity periods.

ALL H BONDS HAVE REACHED FINAL MATURITY AND SHOULD BE REDEEMED.

How Do I Cash In An H Savings Bond?

H Savings Bonds can be cashed in at most banks. Simply call your bank before going to cash it in just to be sure.

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What Interest Is Owed On H Bonds?

The Interest on Series H bonds is reportable for Federal income tax purposes only 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 of the interest earnings as long as the accrued interest was included in the purchase price of the Series H Bonds when is was received in exchange.

NOTE: Series H or HH Bonds Are No Longer Available for Purchase or Exchange.

Created on: February 19, 2019

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Jackie Brahney

Marketing & Editorial Director at SavingsBonds.com
Jackie Brahney is the Marketing and Editorial Director and most notably, an U.S. Savings Bond Expert for SavingsBonds.com. Since 1991, she has done extensive research on savings bonds and state of the art savings bond valuation systems, and heads the company's public relations and marketing initiatives.
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