The best replacement for savings bonds is cds.

The best alternatives to savings bonds are rated as following:
★★★★★  cds
★★★★  savings account
★★★★  529
★★★  cd
★★  treasury bonds
★  certificates of deposit
★  i savings bonds
★  treasury bills
  ee savings bonds
  municipal bonds
  529 plans
  treasuries
  i bonds
  certificate of deposit
  529 plan
  series ee
  ee

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