How to find your savings bond value

The U.S. Department of the Treasury runs a free tool called the Savings Bond Calculator that tells you exactly what your bonds are worth right now. You enter the bond series, denomination, and the month and year it was issued, and the calculator shows the current value. You can find it at treasurydirect.gov — look for "Savings Bond Calculator" in the main menu.

If you have physical paper bonds, the information you need is printed on the front: the series letter (like EE or I), the face value (the amount printed on the bond), and the issue date. If you own bonds through TreasuryDirect, your online account shows the current value of every bond you hold, updated monthly.

The value depends on the bond type and how long you have held it. Series EE bonds earn interest monthly, and that interest compounds. Series I bonds earn interest based on inflation rates that change every six months. The longer you hold either type, the more they are worth — but there are penalties if you cash them in too early.

Key Takeaways

  • The Treasury's Savings Bond Calculator at treasurydirect.gov shows your bond's current value when you enter the series, denomination, and issue date.
  • Series EE bonds earn a fixed interest rate and take 20 years to reach face value; Series I bonds earn interest tied to inflation and adjust every six months.
  • Cashing in a bond before five years have passed costs you three months of interest as a penalty.
  • If you own bonds through TreasuryDirect, your account displays the updated value of each bond every month.

Series EE bonds and how they grow

A Series EE bond purchased at face value grows at a fixed interest rate set by the Treasury. The rate you receive depends on when you bought the bond — rates change every six months. Once your bond is issued, that rate stays the same for the life of the bond.

Series EE bonds are may provide to double in value within 20 years. If the fixed interest rate does not produce enough growth to reach double the purchase price by year 20, the Treasury adds a one-time adjustment to make up the difference. After 20 years, the bond stops earning interest, though you can still hold it for up to 30 years total.

For example, a $50 Series EE bond purchased in 2004 at a rate of 1.6% per year would be worth roughly $67 today, depending on the exact purchase month. The calculator will give you the precise figure for your bond.

Series I bonds and inflation protection

Series I bonds earn interest in two parts: a fixed rate that never changes, plus a variable rate based on inflation. The inflation rate adjusts every six months (in May and November), so your bond's earnings rate changes twice a year. This makes I bonds useful if you are concerned about inflation eroding the value of your savings.

The composite rate — the combination of fixed and inflation rates — is what actually gets added to your bond each month. When inflation is high, your I bond earns more. When inflation is low, your earnings slow but never go below zero because of the fixed-rate floor.

Like Series EE bonds, I bonds penalize early withdrawal. If you cash in an I bond before five years, you lose the last three months of interest. After five years, you can cash it in without penalty, though you still forfeit any interest earned in the current month.

The five-year holding period and early withdrawal penalty

Both Series EE and Series I bonds have a five-year minimum holding period. If you cash in your bond before five years have passed, the Treasury deducts three months of interest as a penalty. This penalty applies no matter how long you have actually held the bond — even if you cash it in at year four and eleven months, you lose three months of earnings.

After five years, you can cash in your bond without the three-month penalty, but you still forfeit any interest earned in the current month. For example, if you cash in a bond on June 15, you receive interest only through May 31.

This penalty structure means that cashing in a bond early can result in a lower value than you might expect. The Savings Bond Calculator shows the current value, but if you are considering cashing in before five years, subtract three months of interest to see what you would actually receive.

Where to find bonds you may have forgotten about

If you have lost track of bonds you purchased years ago, the Treasury's Savings Bond Search tool can help you locate them. You provide your Social Security number and the name and address associated with the bonds, and the search returns any unclaimed bonds registered to you.

You can also contact the Bureau of the Fiscal Service directly at 844-284-2676 or visit treasurydirect.gov to search. If you find bonds you did not know you owned, you can claim them and add them to your TreasuryDirect account.

Paper bonds that have reached final maturity (30 years for Series EE, 30 years for Series I) stop earning interest but retain their value. You can still cash them in at any time, though there is no reason to hold them once they stop earning.

Cashing in your bonds and receiving payment

If your bonds are in a TreasuryDirect account, you can redeem them online and have the money deposited to your bank account within one to two business days. Log into your account, select the bonds you want to cash in, and confirm the transaction.

Paper bonds must be cashed in at a bank or credit union. Bring the physical bond and a form of identification. Some banks charge a small fee to process the redemption, though many do not. Call ahead to confirm your bank handles savings bond redemptions and whether there is a fee.

The value you receive is the current value shown in the calculator, minus the three-month interest penalty if the bond is less than five years old. The bank or TreasuryDirect will provide a receipt showing the amount paid.

Understanding the difference between purchase price and current value

The price you paid for a bond is not the same as what it is worth today. Series EE bonds are typically purchased at half their face value — you pay $50 for a $100 bond — but the face value is just a reference point. What matters is the current value, which includes all the interest earned since purchase.

Series I bonds are always purchased at face value — you pay $100 for a $100 bond — but the current value grows as interest accrues. Neither type shows a "gain" or "loss" in the traditional sense because they are backed by the U.S. government and cannot decrease in value.

If you bought a bond 15 years ago and have not checked its value since, it is almost certainly worth more than you paid. The Savings Bond Calculator will show you the exact amount.

Frequently Asked Questions

Can I check the value of someone else's savings bonds?

No. The Savings Bond Calculator and TreasuryDirect account access require information specific to the bond owner. If you are managing bonds for an elderly parent or relative, you can ask them to check the value themselves, or you can contact the Bureau of the Fiscal Service with proof of authorization (such as power of attorney) to access the information.

What happens if I lose a paper savings bond?

Contact the Bureau of the Fiscal Service at 844-284-2676 with the bond's series, denomination, and issue date. They can research whether the bond has been cashed in. If it has not, you can request a replacement, though the process takes several weeks. Keep the receipt they provide as proof of ownership.

Do I have to pay taxes on the interest my savings bonds earn?

Yes. The interest is subject to federal income tax, though not state or local tax. You can choose to report the interest each year as it accrues, or wait and report it all when you cash in the bond. Most people wait until redemption. Consult a tax professional about which approach makes sense for your situation.

Can the value of my savings bond go down?

No. Savings bonds are backed by the U.S. government and cannot lose value. The worst outcome is that you cash in the bond before five years and lose three months of interest, but the remaining value is always there.

How often does the value update?

Interest on savings bonds accrues monthly, on the first day of each month. If you check the Savings Bond Calculator on different days within the same month, the value will be the same. If you check again the next month, the value will have increased by one month's interest.