As of January 1, 2012, savings bonds may only be purchased online through Treasury Direct. The U.S. Treasury regulates the interest rates on savings bonds. In addition to providing a low risk savings vehicle they are also a great gift idea!
Union Bank of Sparta can still redeem Savings Bonds, but not order them.
Here are a few tips for purchasing Savings Bonds online:
- To purchase electronic gift bonds for relatives or friends, you need to open an account for yourself
- You must have the recipient's social security number (and anyone else named as a co-owner or beneficiary) in order to purchase an electronic gift bond
- Paper bonds are no longer issued - only electronic bonds
- Unless you specify a date, savings bonds are issued the next business day after you complete the purchase request
- You cannot purchase bonds in an entity account (trust, estate, corporation, etc.)
- You can only deliver gift savings bonds to the first named person's account
- Electronic EE bonds are purchased at face value, not half price like paper ones