I recently bought some bonds , and now want to cash them in cause i need the money.?

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I recently bought some bonds , and now want to cash them in cause i need the money.?

If i take them to a bank, will get get what i paid for them. Most were purchased for $500 and mature in 30 years being 1,000. Can i expect to get $500 dollars back for them? Or am i unable to cash them in untill they mature?
Additional Details
I know most of them are , EE and I , I bought most of them through the military if that helps. I just wanna know if im able to go to a bank monday and get what i paid for them. Seperating from the Airforce after 4years really need the cash.

leave them alone and get a credit card.

origamimark

Ask the bank.

Joanne B

You have to hold on to them for a certain number of months. I think it's 6 or 9 or may be a whole year. Then you will get what you paid for them plus a little interest.

Jamir

You will at least get what you paid for them and perhaps some interest depending on how the interest on your particular bonds compounds. There usually is some sort of tax penalty if you cash them in too early, but since I know next to nothing about how the tax code (nor do I want to learn), consult with your banker or an accountant for specifics.

I would think so ...but I am not a bank...I'm an ATM

milan_despotovic

Would love to help but you are not giving much information...! When you say recently you mean this year?, What interest rates are they paying(i.e. do you have a stated "coupons"/ or "interest payment"). You maybe have what is called a "zero coupon" bond. which is purchased at a price which is then raising all the way until its final maturity date. If this is the case then you can sell them without having to worry about it, whenever you want.
Good Luck.

cannondale96

depends on the bond type u got.

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