How to find your savings bond's current value

The U.S. Treasury maintains a free tool called the Savings Bond Calculator at treasurydirect.gov. You enter the bond's series (Series EE, Series I, or Series HH), the issue date printed on the bond itself, and the denomination. The calculator returns the exact value as of today.

If you've lost the physical bond or can't read the date clearly, you can also look up bonds you own through your TreasuryDirect account online. Any bonds purchased directly from the Treasury after 2003 will be registered there. Older bonds or those bought through banks may not appear in that system, which is why the calculator is your backup method.

The value depends on the bond type. Series EE bonds earn a fixed rate set when you bought them. Series I bonds earn a combined rate—a fixed portion plus an inflation rate that changes every six months. Series HH bonds, no longer sold, earn a fixed rate but work differently because they were issued in exchange for Series E bonds. Each type grows on its own schedule.

Key Takeaways

  • Use the Treasury's Savings Bond Calculator at treasurydirect.gov by entering your bond's series, issue date, and denomination to see today's value.
  • Series EE bonds earn a fixed rate locked in at purchase; Series I bonds earn a fixed rate plus an inflation adjustment that changes twice yearly.
  • Bonds must be held at least one year before you can cash them, and cashing before five years means you lose the last three months of interest.
  • You can redeem bonds at most banks, through your TreasuryDirect account, or by mail to the Bureau of the Fiscal Service.
  • Interest earned on savings bonds is subject to federal income tax but exempt from state and local taxes.

Why Series EE and Series I bonds grow at different rates

A Series EE bond purchased today earns a fixed rate of 2.50% per year (this rate changes every six months for new purchases, but your rate never changes). If you bought a Series EE bond in 2010, it still earns whatever rate was in effect then. The bond's value grows predictably because the rate is locked in.

A Series I bond works differently. It has two components: a fixed rate (currently 1.30% for new purchases) that never changes, plus a variable inflation rate that adjusts every May and November based on the Consumer Price Index. If inflation rises, your I bond earns more. If inflation falls, your I bond earns less—but never less than the fixed portion. This is why I bonds are often bought during high-inflation periods: the inflation component can be substantial.

The calculator accounts for both rates automatically. When you enter an I bond's issue date, it applies the correct fixed rate plus all the inflation adjustments that have occurred since you bought it. For an EE bond, it simply multiplies the fixed rate by the years held.

The penalty for cashing in before five years

You can redeem any savings bond after holding it for one year. However, if you cash it before five years have passed, the Treasury deducts the last three months of interest as a penalty. This means a bond held for three years and eleven months loses nearly a full year's worth of growth.

The five-year window is firm. A bond purchased on January 15, 2020, can be redeemed without penalty starting January 15, 2025. Redeeming it on January 14, 2025, triggers the three-month penalty. Most people hold savings bonds well past five years anyway—many hold them for decades—so this penalty rarely affects the final value.

If you need the money before five years, the calculator will show you what you'd actually receive after the penalty is applied. Enter the bond details and the calculator displays both the full value and the reduced value if cashed early.

Where and how to cash your bond

You have three main options. The simplest for most people is to log into your TreasuryDirect account and redeem the bond electronically. The funds deposit into your linked bank account within a few business days. This works only for bonds purchased directly from the Treasury after 2003.

For older bonds or those bought through a bank, take the physical bond to your bank and ask to redeem it. Most banks will cash savings bonds for their customers at no charge. Bring a photo ID. The bank verifies the bond's authenticity and pays you on the spot or within a few days, depending on the bank's process.

If your bank won't redeem it or you prefer not to visit in person, you can mail the bond to the Bureau of the Fiscal Service, Parkersburg, WV 26106. Include a letter stating the bond's series, denomination, and issue date, plus your name and address. Include a copy of your ID. Mail it certified so you have proof of delivery. This method takes two to four weeks.

How taxes work on savings bond interest

Interest earned on savings bonds is subject to federal income tax but not state or local income tax. You have two choices about when to report it: report the interest each year as it accrues, or report all of it in the year you redeem the bond.

Most people choose the second option—reporting everything when they cash the bond—because it's simpler and often results in a lower tax bill if they're in a lower tax bracket that year. When you redeem, the Treasury issues a Form 1099-INT showing the total interest earned. You report this on your tax return.

There is one exception: if you used the bond to pay for may have access to education expenses (tuition or fees at an accredited school), you may be able to exclude the interest from federal tax entirely. This requires meeting specific conditions and reporting the exclusion on Form 8815. A tax professional can advise whether your situation qualifies.

What to do if you can't find your bond or its details

If you own a bond but have lost the physical certificate, check your TreasuryDirect account first. Log in with your Social Security number and password. Any bonds you purchased directly from the Treasury will appear there with their current value.

If the bond was purchased before 2003 or through a bank, it won't be in TreasuryDirect. Contact the bank where you bought it and provide your name and approximate purchase date. The bank may have records. You can also contact the Bureau of the Fiscal Service at 304-480-6112 (Monday through Friday, 8 a.m. to 5 p.m. Eastern time) with your name, Social Security number, and the approximate date you purchased the bond. They can search their records and tell you what you own.

Without the issue date, the calculator cannot give you a precise value, but the Bureau can provide it. Once you have the issue date, use the calculator to check the current worth anytime.

Why your bond's value may differ from what you paid

You never lose money on a savings bond—the value only goes up or stays the same. However, the growth rate changes. If you bought a Series EE bond when rates were 3.5% and rates have since dropped to 2.5%, your bond still earns 3.5%. But if you're comparing what you paid to what it's worth now, the growth may feel slow if rates have fallen since your purchase.

Series I bonds can feel like they're losing value if inflation drops sharply, because the inflation component shrinks. But the fixed portion of your rate never decreases, so the bond's value never declines. It simply grows more slowly during low-inflation periods.

The calculator shows you the exact growth from purchase to today. If the value seems lower than expected, check the issue date—you may have purchased it more recently than you thought, or the rate environment when you bought it was lower than you remembered.

Frequently Asked Questions

Can I check my bond's value without the physical bond?

Yes, if you bought it through TreasuryDirect after 2003, log into your account online and view all your bonds and their current values. If you bought it through a bank or before 2003, contact the Bureau of the Fiscal Service with your name and approximate purchase date, and they can look it up for you.

What's the difference between the value the calculator shows and what the bank will actually pay me?

The calculator shows the full accrued value. If you redeem before five years, the bank will deduct the last three months of interest. After five years, the bank pays the full amount the calculator displays.

Do I have to pay taxes on my savings bond interest right away?

No. You can defer reporting the interest until the year you redeem the bond. Most people do this because it's simpler and can result in a lower tax bill. When you cash the bond, the Treasury sends you a Form 1099-INT showing the total interest, which you report on your tax return that year.

If I lost my bond certificate, can I still cash it?

Yes. Contact the Bureau of the Fiscal Service with your name, Social Security number, and the approximate purchase date. They can verify you own the bond and issue a replacement certificate or process a redemption directly. You'll need to provide proof of identity.

Why is my Series I bond earning less interest now than it did last year?

The inflation component of your I bond adjusts every May and November based on inflation rates. If inflation has decreased, the inflation portion of your rate decreases, but your fixed rate portion stays the same. Your bond's value still grows—it just grows more slowly during periods of low inflation.