i have some savings bonds my grandpa got me before he passed away, since i am trying to by a house i am thinking about cashing them to help with the down payment. they are all paper EE savings bonds and i believe they were all purchased before 1997. i found one website describing them but im still not 100% sure how they work. if i understand the site correctly, paper savings bonds mature after 5 years and can be sold for their full face value. do they collect interest after 5 years? how/where do you cash them? any information anyone can give me would be greatly appreciated. here is a link to the website i read. thank you

http://www.treasurydirect.gov/indiv/...es_e_bonds.htm

 

ok, i found a savings bond calculator, i know what i would get if i cashed them right now but they fully mature until 30 years after they are purchased. the bonds were purchased 1985-1999. i also noticed the ones purchasd after 1992 have a lower interest rate. if anyone has any advice for me i'd appreciate it. thanks again

 

I would check into it to see if there are penalties with cashing them in early. I'm not very familiar with savings bonds but I would guess that there are. Depending how big the penalties they might not be worth it. Plus I'm not real sure how those factor into your taxes and whatnot.

 

i would leave them alone.
open a safety deposit box at your bank and put them their.
the older they get, the more their worth.