Savings Bond

A savings bond is a document representing a loan of more than one year to the U.S. government, to be repaid, with interest on a specified date. In other words, it’s a security issued by the U.S. Treasury or an authorized agent showing that money has been loaned to the U.S. Government and is payable to the person to whom it is registered. These bonds are known as U.S. Savings Bonds.