DEFINITION of 'Qualified Savings Bond'

Refers to a series EE savings bond which has been issued after December 1989 and purchased by an individual at least 24 years of age.

BREAKING DOWN 'Qualified Savings Bond'

The interest from this type of bond is tax-free if you redeem it to pay for a higher education expense.

RELATED TERMS
  1. Series EE Bond

    A non-marketable, interest-bearing U.S. government savings bond ...
  2. Savings Bond Plan

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  3. U.S. Savings Bonds

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  4. Regulation EE

    A regulation set forth by the Federal Reserve. Regulation EE, ...
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RELATED FAQS
  1. What is the difference between EE and I Bonds?

    Read about the similarities and differences between the EE and I savings bond programs created by the U.S. Department of ... Read Answer >>
  2. How long will it take for a bond to reach its face value?

    Learn when different savings bonds reach face value, and determine the best time to cash them in to get the highest return ... Read Answer >>
  3. How long will it take for a savings bond to reach its face value?

    Learn essential information about U.S. savings bonds along with an explanation of the unique characteristics of this popular ... Read Answer >>
  4. How are savings bonds taxed?

    Learn who is responsible for reporting U.S. EE savings bond interest for taxation and when the interest can be reported for ... Read Answer >>
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