Many people might not realize this, but you can purchase just about anything online. Even a bond. It’s sometimes cheaper to purchase your bond online than going through retail brokers.

There are a few simple steps to follow to buy your bond online. The first thing that needs to be done is opening an account with the online broker or dealer of your choice. Just make sure they sell bonds. A lot of dealers will more than likely require that you open an account with a $5,000 minimum. When the account is open, it’s required to deposit that amount into your account. To do so, just mail a check to the dealer or broker.

It’s important to know the type of bond you’re going to get. Try checking out the Bond Market Association’s website to see the different features. When searching online, don’t just look for the best yields; it’s good to know the highest total return. Just calculate the bond’s “yield to call.” The higher the yield, the more you’ll make. Then choose which bond you want and how much you’re going to invest. Remember, the broker’s commission will be built in the price of the bond online.

Once everything was submitted for your bond online, it’s time to wait for verification. The broker will just verify that there’s enough money in your account to cover the bond you’re purchasing. Once you get the confirmation of your bond purchase, a trade confirmation will come to you in the mail a few days after the bond was purchased.

You can also buy a bond online directly from the US Bureau of the Public Debt website. Buying a bond online there will allow you to buy using a credit or debit card. This option could be a lot quicker and easier on you.