30 yr maturity, interest earned is fully taxable at the federal level, and if I am not mistaken, you forfeit 3 months worth of interest as a penalty if you cash them out before 5 yrs. If you are middle income, hold for a year and then roll them, after the penalty and federal tax, you can look at clearing around 4.5% on an annual basis. 9.25% sounds good, but with inflation running at an woefully understated and incorrect 8.5%, you're better off buying something you want or need with that cash, than netting a 4.5% return, while the purchasing power of the dollar is loosing double that % on an annual basis. If you've got nothing you want, need, or need to payoff, and all your money is going to do is sit around in a savings account, then by all means, this would be a good option.