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Savings bond |
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Savings bondA government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates.Savings bond Similar MatchesLifelong individual savings accountLifelong individual savings accountSee 'individual savings account'. Savings and loan associationSavings and loan associationNational- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages. Tax Exempt Special Savings AccountTax Exempt Special Savings AccountA five year tax free savings scheme for people aged 18 and over, introduced by the government in January 1991 and operated by banks and building societies, but terminated in 1999.The maximum amount which could be paid into such schemes over the five year life of the TESSA was £9,000 according to the following schedule:1st year, £3,0002nd year, £1,8003rd year, £1,8004th year, £1,8005th year £600TESSAs were discontinued on 5th April 1999 although those taken out before then are allowed to run their full five year term. If you own a TESSA, you can do three things with it when it matures:You can withdraw the interest and capital free of tax, and either spend it or invest it elsewhere.You can move the capital into a 'Matured TESSA Account'. The interest earned in the account after the maturity date will be taxable.You can move the capital (but not the income) into an ISA account where it can continue to grow tax free. It can either be paid into a special Tessa-only ISA account (a TOISA) or it can be paid into a cash only mini ISA. The move has to be made within 6 months of the maturity of the TESSA. Savings depositsSavings depositsAccounts that pay interest, typically at below-market interest rates, that do not have a specific maturity, and that usually can be withdrawn upon demand. Bonds Enabling Annual Retirement Savings (BEARS)Bonds Enabling Annual Retirement Savings (BEARS)Holders of BEARS receive the face value of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price. Further SuggestionsNational Savings Stock RegisterPost Office Savings Savings rate savings account Savings bank Federal Savings and Loan Association Mutual Savings Bank savings element National Savings Financing Cost Savings National Savings Bank mutual savings bank savings and loan association Individual Savings Account individual savings account Savings element Savings And Loan Association Savings Association Insurance Fund (SAIF) Registered Retirement Savings Plan (RRSP) Mutual savings bank |
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