---
kind: "section"
citation: "31 C.F.R. § 363.59"
title: "31"
number: "363.59"
heading: "What is a payroll savings plan?"
url: "https://uscodex.org/cfr/31/363.59"
---

# §363.59. What is a payroll savings plan?


A payroll savings plan is an automatic method of purchasing savings bonds. (See the definition in [§ 363.6](/cfr/31/363.6.md).) You may open your payroll savings plan by selecting an amount, series, and registration for your savings bond purchases using functionality in your TreasuryDirect® account. Each bond purchase must be in a minimum amount of $25 with additional one-cent increments above that amount, up to a maximum amount of $5000, in any one transaction. The series may be either a Series EE or Series I savings bond. The registration may be any authorized form of registration for an electronic savings bond. You must also initiate a request to your employer or your financial institution to send credits on a recurring basis to your payroll savings plan through the ACH method to purchase a payroll zero-percent certificate of indebtedness. (See [Subpart D](/cfr/31/subpartD.md) for more information about a payroll zero-percent certificate of indebtedness.) When you have accumulated a sufficient amount of payroll zero-percent certificate of indebtedness to purchase a savings bond in the amount, series, and registration that you selected, the TreasuryDirect® system will automatically redeem your payroll zero-percent certificate of indebtedness and purchase your selected savings bond.


## Notes

### Amendments

[75 FR 70816, Nov. 19, 2010]

### Authority

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3102, et seq.; 31 U.S.C. 3121, et seq.

### Source

Source: 67 FR 64286, Oct. 17, 2002, unless otherwise noted.

### Amendments

[75 FR 70816, Nov. 19, 2010]