It’s estimated that the move will save the government $70-million over the first five years.
Savings bonds were introduced in 1935. The newer Electronic Savings Bonds in Series EE and I will remain available through purchase though t a secure web-based system operated by Public Debt. Investors have been purchasing savings bonds this way, 24/7/ since 2002.
Those currently holding paper savings bonds can continue to redeem them at financial institutions. Bonds, which have not matured, but were lost, stolen, or destroyed, can be reissued in paper or electronic form.