H-Bond


H-Bond

A former savings bond in the United States that paid interest on its principal semi-annually. Unlike Series E bonds, which paid interest only at redemption, H-bonds provided bondholders with current income on their investments. H-bonds were issued at face value, were exempt from state and local taxes, and had a fixed interest rate. They were issued between 1952 and 1979 and were replaced by the Series HH bond in 1980.