Series HH Bond - Investment & Finance Definition
A savings bond issued by the U.S. government that provides current income for 20 years. That time frame includes a 10-year original maturity period and a 10-year extension. A savings bond is a contract that represents a loan that an individual makes to the U.S. government. Savings bonds are risk-free because they are backed by the full faith and credit of the U.S. government.