Savings bond

n. governnment bond that is non-negotiable, government bond that cannot be purchased or sold once the original purchase is carried out; non-transferable registered bond issued by the Unite States Treasury in denominations of $50 to $10,000

Noun
1. non-negotiable government bond; cannot be bought and sold once the original purchase is made
(hypernym) government bond

A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest  and semiannually adjusted interest rates.