Series HH Bonds You can purchase Series HH bonds, but only in exchange for Series EE or E bonds and Savings Notes, or with the proceeds from a matured Series HH bond. These bonds don t increase in value and have a maturity of 20 years. These bonds are sold at face value and grow with inflation-indexed earnings for up to 30 years. U.S. savings bonds have tax advantages. You can defer federal taxes on the interest until you cash in the bond or stops paying interest at maturity.
Savings bonds are also exempt from state and local taxes.
Because savings bonds are registered with the U.S. Treasury s Bureau of the Public Debt, you can get your bonds replaced if your bond is lost, stolen, or destroyed. For more information about savings bonds, visit the website of U.S. Department of Treasury s Bureau of the Public Debt . At its site, you can use its Savings Bond Calculator to help you make more informed investment decisions about savings bonds. The website also provides a section describing the different types of securities issued by the Treasury .