Savings Bond- what info is needed

[Jacqueline]

Hey everyone! I am going to get a saving bond for my godson for his Holy Communion, what is needed before hand? I thought his SS#, home address, ? Does anyone know for sure? Thanks.

 

 

[Yari]

I use to be a bank teller. I don't think you need any info except for their name.

 

I could be wrong though, geez I am no help at all.

[Yari]

Okay found this...BTW you did need the social.

 

Individual - Buy I Savings Bonds

[Angel]

Yeah you need his social and usually a beneficiary name on it. Like either of his parents name. And their address.

What type of bond you want, I, E or EE and in what denomination.

That should be it.

Hope this helps.

[Christine]

make sure you find out exactly how long it really takes for them to mature, my grandparents got me a bunch when I was a kid (every birthday and christmas) and thought they would be helpful when it came time for college, so clearly at least 15 years later, only about two were mature and I wound up paying so much in taxes they really weren't worth anything. there are different kinds of bonds though so just make sure you are getting the right kind.

[lucy106]

I am pretty sure you can use the parents SS# too if you do not have your Godson's ss#. and I totally agree with Christine. I have a ton of bonds and what you actually make is not huge and it take forever. It is a nice way to make him save some money but any thoughts on more of a keepsake? Like a Bible with monogram or something? I dont know guess my experience with Bonds isnt very good.

[Angel]

Yeah, the other ladies are right. It takes so long to reach it's full maturity and plus the rate isn't that great. If your dead set on getting him one you can always go to savingsbond.gov to read more info on them.

[Jacqueline]

thank you ladies!!!!! you're bestest!

[Jacqueline]

does anyone think i should get him something "fun" or somethign he can open and enjoy rather than a savings bond, thats kinda boring. i was thinking maybe a nice cross necklace or something, ? i could do both maybe

[Christine]

hmm well how often is a little boy going to wear a cross necklace?

Let's see, how old is he? Can he really open it himself? Otherwise I say something that is a keep sake would be nice, I personally have a bible and a cross from my Christening. If you want to get him something fun, what about an educational toy?