Split your refund to buy a U.S. Savings Bond and earn 2.58% interest on a secure investment of as little as $50.
A tax refund is a once-a-year opportunity to jumpstart a savings habit. This tax season, don’t forget about a savings opportunity that is available directly through the tax filing process: tax-time savings bonds. A savings bond can be purchased easily via Tax Form 8888, allowing you to use a portion of your tax refund to save impulsively at the time of filing without the need for any additional account information.
Series I Savings Bonds are currently offering an interest rate of 2.58% — a return that can’t be found anywhere else in the market for an investment as low as $50. Purchasing a savings bond at tax time is as easy as checking a box, and in addition to their competitive return, U.S. savings bonds offer:
- Accessibility–you can save with as little as $50 and they do not need a bank account
- Safety–U.S. savings bonds are backed by the full faith and credit of the U.S. government
- Giftability–you can give the gift of saving to a loved one such as a child or grandchild, to help them secure their financial future
Don’t forget to ask your tax preparer or select the option in your tax filing software to choose to split and save at tax time.
Click here to learn more about how you can file your taxes for free in person or online. And if you do decide to use part of your refund to buy a savings bond, you can enter to win of 100 cash prizes of $100 through the SaveYourRefund campaign.