Bonds question

Icemopper

Not James Bond, sorry. This is about those money bonds.

I had some bonds from when I was a wee lad, the late 80's and early 90's that I just decided to cash in last week. I had 21 bonds, all different amounts totaling to (I'd rather not say the specific amount) ~2500USD according to the number on the bill.

Now I just got the receipt and it is a little confusing. Seeing as the bank is closed, I thought I'd ask here. It shows the number redeemed, 21, the Total $ redeemed ~3000, Total Interest ~ 2000 (different amount than the bonds total), and the total deposited to the account is the same as the total redeemed.

What I don't quite understand is how the listed interest is slightly more than the dollar amount I brought in, the total redeemed is exactly 1000 more than the "total interest, and then how the deposited amount doesn't show anything different than total redeemed.

Is the $1000 difference the interest?

Thanks H/A.

Cauld

Well, there are many types of bonds. I assume you had savings bonds. Savings bonds were sold for 50% of their face value. So the Total Interest would be the amount you redeemed minus 1/2 the face value. If you put all the money from the bonds in the bank than that would also be the deposited amount.

I would guess the bonds were initially purchased for $1000.
The actual interest rate is a little confusing and depends on how long you held the bonds (I hope you didn't cash in any before they were 20 years old). wiki which is insightful.

Icemopper

Ok, that makes sense, I guess. They were definitely at least 20 years old, so that's good. I'll probably call tomorrow to see if I can look at the detailed transaction.

Thanks for the help though.