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.

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RELATED FAQS
  1. 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 >>
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