How to find the current value of your savings bond
The value of a US savings bond depends on when you bought it, what series it is, and how long you've held it. You can look up the exact worth of any bond you own using the Treasury Department's Savings Bond Calculator at treasurydirect.gov. You'll need the bond series (Series EE or I, most commonly), the issue date printed on the bond, and the denomination you paid for it.
If you have paper bonds, the issue date is on the front. If you bought bonds through TreasuryDirect online, log into your account and the system shows current values for every bond you hold. The calculator updates every month on the first business day, so the value you see is current as of that date.
Physical paper bonds and electronic bonds held in TreasuryDirect are worth different amounts at different times. A paper bond you bought 20 years ago may be worth far more than a new electronic bond, or vice versa, depending on interest rates and how long each has been earning.
Key Takeaways
- Use the Treasury Department's Savings Bond Calculator at treasurydirect.gov to find the exact current value of any bond you own.
- Series EE bonds are worth at least what you paid for them after 20 years, even if interest rates were low when you bought them.
- Series I bonds earn interest tied to inflation and are worth more when inflation is high, so their value changes monthly.
- Paper bonds and electronic bonds from different purchase dates have different values, so you need the issue date to calculate correctly.
- Savings bonds continue earning interest for up to 30 years, so an old bond you forgot about may be worth significantly more than you think.
Why Series EE and Series I bonds have different values
Series EE bonds are sold at half their face value. If you paid $50 for an EE bond, its face value is $100. The bond earns a fixed interest rate set by the Treasury when you buy it. That rate stays the same for the life of the bond. After 20 years, the Treasury guarantees the bond will be worth at least what you paid for it, even if interest rates were very low when you bought it.
Series I bonds are sold at face value — you pay $50 for a $50 bond. They earn interest in two parts: a fixed rate that never changes, plus a variable rate based on inflation. The inflation rate is recalculated every six months, so the total interest you earn changes twice a year. This means an I bond you bought last year may be worth more or less than an identical I bond bought this month, depending on whether inflation went up or down.
An EE bond bought in 2004 has a predictable value because the interest rate was locked in then. An I bond bought in 2004 has a different value now because half its interest came from inflation rates that have changed many times since purchase.
How long bonds earn interest and when they stop
Both Series EE and Series I bonds earn interest for 30 years from the issue date. After 30 years, they stop earning anything new. The value you see on the calculator on year 30 is the final value — it will not change after that.
Many people hold bonds past the 20-year mark because they are still earning. A Series EE bond bought in 2000 is still earning interest in 2024 and will continue to do so until 2030. After 2030, that bond's value is locked in permanently.
If you have old paper bonds from the 1990s or early 2000s, check the issue date. If it was issued before 1994, the bond has already stopped earning and is worth whatever the final value was when it hit 30 years. If it was issued between 1994 and 2024, it is still earning and may be worth more than you think.
The difference between paper bonds and TreasuryDirect electronic bonds
Paper savings bonds and electronic bonds work the same way — they earn interest at the same rates and have the same 30-year earning period. The difference is how you track and redeem them. Paper bonds are physical certificates you hold. Electronic bonds exist only in your TreasuryDirect account online.
Paper bonds are harder to value because you have to use the calculator and enter the information yourself. Electronic bonds are easier because TreasuryDirect shows the current value in your account at any time. If you have paper bonds scattered in a safe deposit box or desk drawer, you may not know their current worth without looking each one up individually.
Paper bonds can be lost, damaged, or stolen. Electronic bonds cannot. If you have old paper bonds, you may want to consider converting them to electronic form through TreasuryDirect, though this process has specific steps and timing rules.
What happens to bonds after they reach final maturity
When a bond reaches 30 years, it stops earning interest and reaches what the Treasury calls final maturity. The value on that date is permanent. You can still hold the bond after final maturity, but it will not gain any value. You can redeem it at any time for whatever it is worth on the redemption date.
Many people do not realize their old bonds have stopped earning and hold them for years after final maturity. If you have a bond issued in 1994 or earlier, it has already reached final maturity and is no longer growing. Redeeming it and putting the money elsewhere may make more sense than letting it sit.
You can redeem a bond at most banks or through TreasuryDirect. Paper bonds require a bank teller or a medallion signature may provide. Electronic bonds can be redeemed directly through your TreasuryDirect account and the money goes to your linked bank account within a few business days.
How inflation affects the value of Series I bonds
Series I bonds are the only savings bonds whose value changes based on inflation. The composite rate — the total interest you earn — is the fixed rate plus the inflation rate. The inflation rate is based on the Consumer Price Index and is announced by the Treasury every six months, on May 1 and November 1.
When inflation is high, I bonds become more valuable because the inflation portion of the interest rate goes up. When inflation is low or negative, the inflation portion shrinks (though it never goes below zero). This is why an I bond bought in 2021 when inflation was low may be worth less than an I bond bought in 2022 when inflation was high, even if they were bought for the same price.
The interest rate on an I bond changes on the anniversary of its purchase date every six months. If you bought an I bond on March 15, 2023, the rate changes on March 15 and September 15 each year. The new rate applies to interest earned going forward, not retroactively.
Penalties for cashing in bonds before five years
If you redeem a Series EE or Series I bond before five years have passed, you lose the last three months of interest. This is called the early redemption penalty. If you bought a bond on January 1 and redeem it on December 31 of year four, you forfeit the interest you earned in October, November, and December of that year.
After five years, there is no penalty. You can redeem the bond and receive all the interest you have earned up to that point. This is why financial advisors often recommend holding savings bonds for at least five years if you can afford to.
The penalty applies only to the interest, not to your original investment. If you paid $50 for a bond and it is worth $55 after four years, redeeming it early means you get back $52 instead of $55 — you lose three months of the $5 gain, not the $50 principal.
Frequently Asked Questions
Can I find the value of a savings bond without the issue date?
No. The Treasury calculator requires the issue date because bonds of the same series and denomination bought in different years have different values. Without the issue date, the calculator cannot determine which interest rate applies or how many months of interest have accrued. If you have a paper bond but cannot read the date clearly, contact the Treasury at 844-284-2676 or visit treasurydirect.gov for help locating the information.
What if my savings bond is worth less than I paid for it?
This can happen with Series I bonds if you bought them when inflation was high and inflation has since dropped significantly. Series EE bonds are may provide to be worth at least what you paid after 20 years, so they cannot be worth less than your purchase price after that point. If an EE bond is worth less than you paid and it has been less than 20 years, you can wait or redeem it early and accept the loss.
Do I have to redeem my bond on a specific date?
No. You can redeem a savings bond any time after you have held it for one year. There is no deadline or expiration date. Bonds continue earning interest for 30 years, so you can hold them as long as you want up to that point. After 30 years, they stop earning but you can still redeem them for their final value.
How do I know if my old bonds are still earning interest?
Check the issue date on the bond. If it was issued 30 or more years ago, the bond has reached final maturity and is no longer earning. If it was issued less than 30 years ago, it is still earning. Use the Treasury calculator to see the current value and confirm the bond is still growing.
Can I check the value of someone else's savings bond?
Only if you have access to their TreasuryDirect account or if you have the physical bond and the issue date. The Treasury does not release bond information over the phone or by mail to anyone but the registered owner. If you inherited a bond, you will need to work with the estate or the bond owner's bank to transfer ownership before you can see the value in TreasuryDirect.