does bank of america cash savings bonds

But inflation has also driven up rates on some government savings If you still hold paper bonds, you can redeem them at local banks. In these cases, the bearer may have to visit a Federal Reserve Bank Savings Bond Processing Site to redeem the bond. You can find the locations of these sites. With a Save to Win® Certificate of Deposit every $25 deposit earns a new entry to win up to $5,000 in monthly and quarterly cash prizes! Go to Savings Go to.

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What Is the Bank of America Cashier’s Check Fee?

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With a Bank of America checking account, you have access to financial products, including cashier’s checks. You might need a cashier’s check for a large transaction in which a guaranteed form of payment is requested, like buying a house or a car.

Although some banking institutions will issue cashier’s checks if you don’t bank with them, Bank of America issues them only to account holders — depending on the type of account they have, they might have to pay a $15 fee. Find out how much you’ll pay for a Bank of America cashier’s check, how to get one, how to cornerstone financial credit union online banking getting scammed and why you might need a cashier’s check instead of another kind of guaranteed check.

How To Get a Bank of America Cashier’s Check

Because a bank — instead of an individual — guarantees cashier’s checks, they are typically considered safe. When a customer requests a cashier’s check from a bank, the bank first ensures the customer has enough in their account to cover the check, then freezes the funds until the payee cashes the check.

To get a cashier’s check you will need to visit your nearest branch and provide the teller with your ID, bank account information, exact amount of the check and name of the payee. The teller will print the check and sign it, and you’ll need to pay the cashier’s check fee unless you are enrolled in Bank of America’s Preferred Rewards program. Once you pay the fee you can take the check and present it to the payee.

BofA’s Cashier’s Check Fee

Bank of America offers cashier’s checks to all customers with a checking or savings account for a $15 fee. If you are enrolled in Bank of America’s Preferred Rewards program, however, you’ll get cashier’s checks for free. If you do have to pay the fee, Bank of America’s cashier’s check fee is in the middle for the industry — Wells Fargo and Citibank charge $10 and also bb&t and suntrust merger charlotte cashier’s checks for free on certain accounts. Capital One charges $20 for an online purchase with overnight shipping or $10 in-branch, but has no waiver.

How Cashier’s Checks Differ From Other Guaranteed Checks

Cashier’s checks are different from money orders and certified checks. A certified check is a personal check that the bank certifies and signs as a guarantee that you have the funds in your account and that your signature is genuine.

Like cashier’s checks, money orders are prepaid — you can get them from financial institutions, post offices and even some retail stores like Walmart. A money order, however, is limited to $1,000 or less. If you need to pay for something that costs more than $1,000 and the payee wants a guaranteed form of payment you’ll likely need a cashier’s check.

How to Avoid Cashier’s Check Fraud

Because cashier’s checks are generally trusted, they are frequently used in scams. Although you can usually withdraw funds from a deposited cashier’s check quickly, if the check ends up being fraudulent you’ll be responsible for paying the money back to the bank.

Be careful about accepting a cashier’s check from a stranger, even one issued by Bank of America or another trusted bank. To cut down on the likelihood of getting a bad cashier’s check, follow these steps:

  • If possible, ask for a cashier’s check drawn on a bank with a branch near you.
  • Call or visit the bank on which the check is written to find out if it is genuine.
  • Know the difference between funds being available for withdrawal from your account and the cashier’s check actually clearing. Some banks are required by law to make funds available to customers even if the check www bankofthewest com payment cleared.

Information is accurate as of Nov. 16, 2021.

About the Author

Valerie Smith is a writer based in Southern California, specializing in legal, real estate, finance, and aviation topics. Valerie is a commercial pilot, FAA licensed aircraft dispatcher, FAA licensed Advanced and Instrument Ground Instructor, California real estate broker, and certified paralegal. Her work has appeared in numerous publications in print and online. A life-long California resident, Valerie holds a Bachelor of Arts degree from San Diego State University and attended Sheffield School of Aeronautics.


Financial Literacy

Savings bonds may make sense for conservative investors. They are lower risk than most investments since they are backed by the U.S. government. Since these bonds earn interest for up to 30 years, they can be used for long-term goals such as education and retirement. They are good for a forced-savings program to make sure you do not spend the money on something other than your goal. Savings bonds are issued by the U.S. Treasury and are available online at the Treasury's web site, and may be available through your employer via payroll deduction.

Series EE and Series I bonds have tax advantages—you will not have to pay state or local tax on the interest earned, and federal tax can be deferred until you redeem the bonds or they reach maturity. In addition, you may does bank of america cash savings bonds eligible to exclude all, or a portion of, the interest if you redeem the bonds in the year in which you pay your child's college tuition. Series EE and Series I bonds purchased after 1989 that are redeemed to pay college tuition may not be taxed at all if the parent's modified adjusted gross income falls below a certain dollar amount and other requirements are met. See the section Saving Taxes for more details.

Series EE Bonds

Series EE bonds, previously issued in paper form, were sold at one-half of their face value. For example, a $50 bond would cost $25, and a $10,000 bond would cost $5,000. New bonds are now held electronically via TreasuryDirect and are issued and purchased at face value. You may purchase any amount over $25 up to $10,000 per calendar year for each social security number. Series EE bonds issued after May 1, 1995 earn a fixed rate of return. Bonds issued from May 1997 to April 2005 earn a variable rate. Current bonds issued pay a fixed rate which is available on Treasury Direct.

A three-month interest penalty will apply to bonds redeemed within the first five years; these bonds are meant to be longer-term investments. Series EE bonds issued after February 1, 2003 must be held at least 12 months before they can be redeemed.

IMPORTANT NOTE: Bonds issued before May 1997 accrue interest every six months. If you cash in your bond before the accrual date, you'll lose up to six months interest. Make sure you check with your bank. Bonds issued after May 1997 accrue interest every month.

Series I Bonds

Series I bonds are inflation-indexed treasury bonds that are intended to encourage Americans to save more by offering protection against future swings in the cost of living. The Series I bonds earnings rate is a combination of a fixed rate of return determined at issue, and a semiannual inflation rate. The semiannual inflation rate is combined with the fixed rate of the particular Series I bond to determine the bond's earnings rate for the next six months.

Interest earnings are added to the Series I bond each month and interest is compounded semi-annually.

Series I bonds earn interest for up to 30 years, and twice a year the earnings rate can change to reflect any fluctuation in the semiannual inflation rate.

A three-month interest penalty will apply to bonds redeemed within the first five years; these bonds are meant to be longer-term investments. Series I does bank of america cash savings bonds issued after February 1, 2003 must be held at least 12 months before they can be redeemed.

Series I bonds are offered at face value in the same denominations as Series EE bonds. Series I bonds are priced at face value. Thus, it will cost $50 to purchase a $50 Series I bond. Bonds held electronically via TreasuryDirect are issued and purchased at face value.

For the current rate on U.S. Savings Bonds, call 1-800-284-2676. You can also obtain the current rates via the internet at

Zero Coupon Bonds

These bonds are typically a lower-risk, reliable solution for conservative investors. It is best if you keep these investments for at least five years to take advantage of the accumulation of interest that these bonds offer.

Zeros get their name because they pay zero or no interest until they mature. That means you get all your interest in a lump sum when the bond matures at face value. For example, a $1,000 zero coupon treasury yielding 3.50% and maturing in 18 years, costs only $540 today. That means you invest $540 today and in 18 years you'll receive $1,000. To compensate for the missing/delayed interest rate payments, zeros sell at a steep discount from face value. You can purchase zeros with differing maturity dates so that you will receive the lump-sum amounts in the years when you need it—for example when your child is a senior in high school and for each of the following years of college. The lower-risk zeros are those issued by the U.S. Treasury.

SUGGESTION: A key advantage of zeros for financing college is that there are no semiannual interest payments as there are with regular bonds, so you can't spend the interest nor do you need to worry about where to invest it.

IMPORTANT NOTE: The trading prices of zeros can fluctuate significantly as interest rates move up or down. Price changes won't affect you, if you hold your bonds until maturity.

IMPORTANT NOTE: Although zero-coupon bonds do not pay interest until maturity, you must report the interest that accrues annually as income on your tax return. You can avoid this taxable income by purchasing tax-exempt zeros.

SUGGESTION: Zero coupon bonds are ideal for funding future needs such as your retirement or your child's college education. While you may not achieve as high a long-term rate of return as is possible when you invest in stock mutual funds, you do know exactly how much you'll be getting when the bond matures. Zero coupon bonds can help you "lock in" future amounts. Zero coupon bonds can be purchased through an investment representative.

Zero Coupon Municipal Bonds

These bonds, issued by many states, may be appropriate for conservative investors who are concerned about minimizing the amount of income tax they pay.

They are sold at a substantial discount from face value and therefore are within financial reach of many parents. In fact, they often come in denominations as low as $1,000. When they mature, you receive the full face value. These bonds, sometimes called baccalaureate bonds, issued at a set rate of interest. And, no matter the giving keys inc high your income, the interest the bonds earn is free from federal taxes and generally from state taxes for residents of the issuing states.

Because you'll get a lump-sum payment when the bonds mature, you know the exact dollar amount coming due, making it easy to plan for college bills.

Ask your investment representative to tell you about forthcoming issues. You can also call your state treasurer's office to find out when the bonds will be issued.


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 Detroit Free Press Personal Finance Columnist

As we move into a new year, our thoughts turn to diets, ditching bad habits and seeking inner calm.

But add one more thing to the financial list of things that require our attention in 2016 -- U.S. savings bonds.

Thanks to higher interest rates in 1986, savings bonds were a huge deal at the time and maybe almost as hot in some minds as Wall Street. Now 30 years later, the new year will mark a milestone when millions of Series EE savings bonds bought in 1986 will stop earning any more interest at various months in 2016, depending on when the bond was issued. And those bonds need to be cashed.

But here's the trick, no one is going to send you any notice on this deal or automatically redeem these bonds for you. It's totally up to you.

Unfortunately, savings bonds are one of those things that many of us have learned to ignore. But big money could be hiding in shoe boxes, safe deposit boxes and elsewhere among the savings bonds that you once found tucked in birthday cards, bonds bought through payroll deduction or inherited from Mom or Dad.

Nearly $12 billion in savings bonds were bought in 1986 alone. Many of those bonds have yet to be cashed. As of the end of October, more than 12.5 million Series EE savings bonds bearing 1986 issue dates were outstanding, according to the federal Bureau of the Fiscal Service.

Only a few years showed greater sales for savings bonds, according to Daniel Pederson, author of "Savings Bonds: When to Hold, When to Fold" and president of the Savings Bond Informer.  Other big years: 1992 with $17.6 billion in bonds sold; 1993 with $13.3 billion and 2005 with $13.1 billion.

Buying savings bonds was trendy in 1986 because bonds bought from January through October 1986 had an initial rate of 7.5% for the first 10 years. But the rate was set to fall to 6% on newly purchased savings bonds beginning in November 1986.

So, you guessed it: People really loaded up on 7.5% bonds in October 1986.

Pederson said his former office at the Federal Reserve Bank branch in Detroit received more than 10,000 applications for savings bonds in the last four days of October 1986. Typically, the office would see about 50 applications for savings jp morgan chase bank customer service purchases each day at that point.

"Buyers snatched up billions in bonds during those final days of October 1986. Most did not realize that the 7.5% was good for only the first 10 years of the bond's life," he said.

Here are five things to know about savings bonds:

1. What's the bond really worth?

The $50 face value on the bond doesn't mean it's worth $50. Back in 1986, for example, you paid $25 for a $50 Series EE bond. So you've been building up interest toward the $50 value and beyond.

How much money you get when you cash your bond would vary considerably on the bond and what interest rates were paid during the lifetime of the bond.

Figure out the value with the Savings Bond calculator at the government website at  You'd plug in a set of numbers listed on your savings bonds and then the government site will list how much the bond is worth now, the next interest payment, when the bond hits final maturity.

Pederson also has a service at and 800-927-1901 that offers a customized statement and phone consultations for a fee for savers and financial planners.

2. How much money could we be talking about here?

Plenty -- especially if you have a stack of bonds.

What's important to realize is that some people still haven't cashed other savings bonds from early in the 1980s, either. More than 7.2 million Series EE savings bonds issued in 1985, for example, remained outstanding and not cashed yet, as of Oct. 30, 2015. After 30 years, these outdoor dining rockland county ny stop earning more interest.

A $50 Series EE savings bond with a picture of President George Washington that was issued in January 1986 was worth $113.06 as of December. The bond will earn a few more dollars in interest at the next payment in January 2016.

A $500 savings bond with a picture of Alexander Hamilton, a Founding Father and the nation's first treasury secretary, that was issued in April 1986 was worth $1,130.60 as of December. The next interest payment is in April 2016.

All bonds bought in 1986 are currently earning 4% until their final maturity date. So you do want to pay attention to when the next interest payment is made onto the bonds.

Savings bonds bought earlier in the year in 1986 paid the 7.5% for first 10 years. The bonds bought in November and December 1986 paid 6% for the first 12 years. After that, they both earned 4%.

The bonds bought in 1986 will be hitting final maturity and stop earning interest in various months depending on the issue date. If you bought a Series EE bond in February 1986, for example, it will receive its last bit of interest on Feb. 1, 2016.

Look at the top right corner of the bond does bank of america cash savings bonds find the issue date.

3. Where can I cash the bond?

Often, it's easier to cash U.S. savings bonds, especially large amounts at once, if you're a customer at a given bank.  Comerica Bank, for example, will cash Series E, EE and I savings bonds that amount to less than $1,000 for non-customers and customers. But in order to cash savings bonds worth $1,000 or more, you must be an established Comerica customer.

Chase and PNC Bank also have a $1,000 limit cashing savings bonds for non-customers.

If you have a stack of 400 bonds, as some customers do, you might want to call a bank in advance to check a good time to come into the bank.

Joyce Harris, a spokeswoman for the federal Bureau of Fiscal Service, said it can be good idea to check with the bank first on any dollar limit that the bank might have for cashing a stack of bonds at once. Advice: Don't sign the request for payment on the back of your bond until you are at the financial institution and are instructed to sign the bond.

Remember, banks will have different policies on how much they will redeem in one visit. Some banks and credit unions also will not redeem savings bonds at all.

4. What kind of taxes will I owe?

First, you need to figure out how much of the money you receive can be attributed to interest.

Believe it or not, many people don't realize that they don't pay taxes on the entire amount of money they receive when they cash a U.S. savings bond, said George W. Smith IV, a certified public accountant and partner at George W. Smith in Southfield.

What you originally paid for the savings bond -- or the principal portion -- is not taxable. The interest earned is taxed at regular income tax rates, not as a capital gains income tax rate.

"The interest is not taxable at the state level," Smith said.

So if you had a $500 bond issued in April 1986, it would be worth $1,130.60 if you cashed it in December 2015. The buyer of the bond -- be it Mom or Dad or Grandma or you -- paid $250 for that bond. So in this case, $880.60 of interest would be taxable.

What if you cash all the 1986 bonds that hit final maturity in 2016? Then, you'd pay taxes on those bonds on the 2016 tax return.

It is important to factor in the interest and save your paperwork to prepare your i was made for loving you lyrics returns.

Joseph DeGennaro, tax director for Doeren Mayhew in Troy, said one elderly client cashed in some savings bonds at one point but didn't realize she needed to report the interest income. But a year later, the Internal Revenue Service sent her a tax bill plus interest and penalty for not reporting the income.

Pederson noted that some big savers are cashing in some of their 1986 bonds in 2015 and forgoing some interest in order to avoid bunching all of the interest in 2016. He recommends talking to a tax professional to see what works best here and realize that you would miss out on the final one or two interest rate payments at 4% that would have taken place in 2016 if you cash the bonds in 2015.

The government's website also gives some details on who owes the tax and other tax questions. 

It is possible to report interest every year as it builds. But most people tend to put that off and report the interest when they cash the bond. Technically, the savings bond site notes that even if you've not already cashed the bond, you would owe taxes on interest in the year that does bank of america cash savings bonds bonds stop earning interest and reaches full maturity.

Pederson said the rule is that you must report interest earned on a bond in the year it reaches final maturity or when you cash it, whichever comes first.

5. What's the interest rate you'd get if you bought savings bonds online today?

Nothing close to 4% any more.

Now a Series EE savings bond issued from November 2015 through April 2016 will earn a fixed rate of 0.10% - so they're not all that exciting.

A new Series I savings bond issued during that same time would earn a composite rate of 1.64% for the first six months after the issue date -- and a portion of that is indexed to inflation every six months. So the Series I savings bond has an interest rate that will fluctuate considerably over time.

See for information on how to buy bonds and how to sell them.

Contact Susan Tompor: 313-222-8876 or [email protected] Follow her on Twitter @Tompor.


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If you own a Series EE or Series I savings bond, you have a few different ways to cash it in, but you’ll need to gather some information first.

A U.S. savings bond is a low-risk investment product that’s backed by the U.S. government and purchased through the U.S. Department of Treasury. Today, you can buy two types of savings bonds: Series EE and Series I bonds. Both earn interest over time, up to their date of maturity — 30 years.

You have to wait at least 12 months from the date of purchase to cash in a savings bond (there’s one exception, which is if you’re affected by a natural disaster). And if you cash it in at any time from one to five years, there’s a penalty: You’ll lose the three prior months’ worth of interest. If you hold onto the bond past five years, there’s no penalty when cashing in.

It’s easy to cash in a savings bond, but it’s important to understand the type of bond you own and the value of holding onto it before you cash yours in. Let’s take a look at how to cash in Series EE or Series I savings bonds.

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How does a savings bond work?

Savings bonds have been around since 1935, as a result of legislation passed by President Franklin D. Roosevelt. Bonds were created to help Americans save money and to give the government funds to support efforts such as World War II. When you buy a U.S. savings bond, you’re essentially lending money to the United States government through the Department of Treasury.

The types of savings bonds available for purchase have changed over the years. For example, Series HH savings bonds are no longer sold. Here’s the rundown on Series EE and Series I bonds, the two types of savings bonds sold today.

Series EEbonds

Series EE savings bonds earn a fixed rate of interest each month for up to 30 years. The rate for homeless food shelter bonds is announced by the Treasury each year on May 1 and November 1. EE bonds purchased before May 2005 have variable interest rates. This type of bond is available in an electronic form and can be does bank of america cash savings bonds in penny increments starting at $25 and up to a maximum of $10,000 per calendar year.

Series I bonds

Series I savings bonds earn a fixed rate of interest that’s adjusted for inflation twice a year. Like Series EE bonds, electronic Series I bonds are available in penny increments of $25 to $10,000 per calendar year. Paper Series I bonds (available for purchase only when filing a federal income tax return) are available in amounts of $50, $100, $200, $500 and $1,000 only.

How much are savings bonds worth?

Savings bonds earn interest for 30 years, but rates are relatively low. In May 2020, the U.S. Department of Treasury declared a 0.10% rate for Series EE savings bonds and a composite, or combined, 1.06% interest rate for Series I bonds through Oct. 31, 2020. These rates are comparable to the interest you can earn on some savings accounts but lower than that of some certificates of deposit and money market accounts.

Interest earned on savings bonds is exempt from state and local taxes, and federal income tax is deferred until you cash in your bond or it matures — whichever happens first. If you plan to use savings bonds to pay for qualified education expenses, you may get additional federal tax benefits.

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When should you cash in a savings bond?

You can cash in a savings bond once you’ve owned it for a minimum of one year. But if you want to avoid penalties, you’ll need to wait five years. Otherwise, you’ll lose the last three months of interest earned.

The longer you wait to cash in your savings bond, the more your money will grow. Savings bonds continue to grow in value until they reach maturity at 30 years. If your savings bond hasn’t reached its maturity date, you might want to does bank of america cash savings bonds cashing it in unless you plan to invest the money in an account that earns higher interest.

If you want to know how your bond is growing, you can see the current value of your electronic savings bond by logging into TreasuryDirect. For paper bonds, use the U.S. Treasury’s online savings bond calculator.

Can you cash in a savings bond at a bank?

Where you can cash in depends on whether you have a paper or electronic savings bond.

Paper bonds

Paper savings bonds can typically be cashed in at your bank or credit union. If you plan to visit a financial institution where you’re not a member or customer, you may want to see if it will cash your bond before you visit.

Check with the bank to confirm what documents you’ll need to bring. In general, here’s what you should take with you.

  • Your paper savings bond
  • Identification, such as driver’s license
  • If you’re the beneficiary, a copy of the owner’s death certificate

Keep in mind that bonds can’t be cashed in by just anyone. Savings bonds must be cashed in by the bond owner or co-owner, which includes “survivors,” or people named on the bond who inherited ownership after the original owner passed away. If you bought the savings bond through an auction site like eBay, you are not the registered owner (a savings bond is nontransferable) and can’t cash in the bond.

A parent may cash in a child’s savings bond if the child is too young to sign the request for payment and the child lives with the parent — or the parent has legal custody of the child.

Anyone else who wishes to cash in a bond needs to present evidence of the legal right to do so.

At the bank, you’ll sign each bond and receive the cash value. Once you’ve cashed in your bond, the bank will either hand you a 1099 tax form or mail it to you by the end of the tax year.

Paper bonds can also be cashed via mail. To cash in by mail you’ll need to download or order a FS Form 1522 from the U.S. Department of Treasury, get your signature certified and mail the form to the address noted on the form.

Electronic bonds

Electronic bonds can be cashed in by logging into your TreasuryDirect account and setting up a direct deposit to your checking or savings account. The cash amount may be credited to your bank account within two business days.

What’s next?

Cashing in a savings bond can provide fast access to cash when you need it. But if the bond is only a few years old, cashing it in could mean losing interest earnings, along with future growth.

If your bond has reached maturity but you don’t need the cash from it for now, cashing it out and putting the money into a high-yield savings account, money market account or CD could help you continue to earn interest.

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About the author: Sarah C. Brady is a San Francisco–based financial consultant, workshop facilitator and writer. In addition to writing for Credit Karma, Sarah writes for Experian, LendingTree, Magnify Money, MSN News and more. In her … Read more.

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Types of Investments - Bonds

What they are

A bond is a fixed income investment in which an investor loans money to an entity (typically corporate or governmental), which borrows the funds for a defined period of time at a variable or fixed interest rate. In exchange, the issuer of the bond agrees to pay you a pre-set, regular interest rate payment for a fixed amount of time. At the end of the term, the issuer (who borrowed the money) agrees to pay you back the bond’s par value.

How they work

While bonds are considered less risky than stocks, investing risks vary depending on the type of bond you buy. The interest rate is based on a number of factors, including the risk of the loan: The higher the risk, does bank of america cash savings bonds higher the interest rate.

All bonds carry market risk, and if you sell the bond before the end of its term, you may not recoup the principal amount you paid. In addition, it’s important to note that the issuer may default on either the interest payments or the payback amount, or both. Keep in mind that interest rate fluctuations affect bond prices. When interest rates fall, bond prices tend to rise, and when interest rates rise, bond prices tend to fall.

An important part of your portfolio

Even if interest rates trend up, bonds can help add stability to your portfolio potentially helping to:

  • Reduce fluctuations in the overall value of your portfolio
  • Contribute to meeting your income needs
  • Prepare for future expenses (such as college and retirement)


Federal bonds are issued by the federal government while municipal bonds are issued by state governments or local municipalities. Within these two categories are tax-exempt and taxable bonds.

Tax-exempt bonds

Tax-exempt bonds are usually bonds issued by a municipal, county, or state government (called municipal or "muni" bonds). Bond interest payments are exempt from federal income tax and, in some cases, state and local income tax. While the interest income is tax-free, any capital gains will be subject to taxes. Income for some investors may be subject to the federal Alternative Minimum Tax (AMT). Tax-exempt bonds may fit within your overall investment strategy depending on your tax bracket and investment goals.

Taxable bonds

You’ll pay taxes on interest payments from taxable bonds. Some examples include:

  • Corporate bonds
  • Government-sponsored enterprises (although, some are state and local tax-exempt)
  • Taxable municipal bonds (although, they may be exempt from state taxes if you live in the state where the bond is issued)
  • U.S Treasury bonds (but they’re exempt from state and local taxes)
  • Zero-coupon bonds (although, some are exempt from state and local taxes)

How to invest in bonds

Aside from Treasuries, which can be purchased directly from the U.S. government, most bonds must be purchased through a brokerage account or an investment vehicle such as a mutual fund. If you prefer to invest through Wells Fargo Advisors, you can invest online on your own or get help from a Financial Advisor.

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Investments in fixed-income securities are subject to market, interest rate, credit, and other risks. Bond prices fluctuate inversely to changes in interest does bank of america cash savings bonds. Therefore, a general rise in interest rates can cause a bond’s price to fall. Credit risk is the risk that an issuer will default on payments of interest and/or principal. This risk is heightened in lower-rated bonds. If sold prior to maturity, fixed-income securities are subject to market risk. All fixed-income investments may be worth less than their original cost upon redemption or maturity.

Asset allocation and diversification are investment methods used to help manage risk. They do not guarantee investment returns or eliminate risk of loss including in a declining market.

A periodic investment plan such as dollar cost averaging does not assure a profit or protect against a loss in declining markets. Since such a strategy involves continuous investment, the investor should consider his or her ability to continue purchases through periods of low price levels.

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