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Accrual-type savings security

Accrual-type savings security Definition

A savings bond or note having a redemption value (see Current redemption value) that increases periodically (typically, either every six months or monthly) as interest is added to the security's issue price (principal). Interest accrues on such a bond or note and becomes a part of the redemption value (principal + interest) which is paid when the bond or note is cashed. Series I/E/EE bonds, savings notes, retirement plan bonds, and individual retirement bonds are the currently outstanding accrual-type securities. Series A through Series D bonds as well as Series F and J bonds, all matured, were also accrual-type securities. Also referred to as an Appreciation-type Security.
RELATED TERMS
Redemption
Savings Bond
RELATED CATEGORIES
Bonds



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