TreasuryDirect savings bonds are electronic versions of traditional U.S. savings bonds. The U.S. Treasury stopped issuing paper savings bonds in 2012. Managed by the Bureau of Fiscal Affairs, TreasuryDirect.gov sells and stores electronic savings bonds.
The federal government estimates savings of $70 million during the first five years of issuing savings bonds online exclusively. You need your Social Security number and your bank account routing number to open an account.
The first U.S. savings bonds were issued in 1935 by Secretary of Treasury Henry Morgenthau, Jr. Savings bonds give small investors a return on their money and provide the federal government with another option to finance operations.