§ 29975 Bond Redemption Fund Requirements

• •If bonds are not turned in on the set date, the money to pay them is set aside the next day.
• •The money set aside covers the bond's main amount and any interest up to the due date.
• •After the due date, the bonds stop earning interest.

You have a savings bond that is due on January 1st, but you forget to cash it in.

The bank will set aside the money to pay you on January 2nd. This money includes the bond's value and any interest it earned until January 1st. After January 1st, the bond won't earn any more interest.