Check the current value on TreasuryDirect or with a calculator
The U.S. Department of the Treasury maintains a free online tool called the Savings Bond Calculator at treasurydirect.gov. You enter the bond's series letter, denomination (the amount printed on the bond), issue date, and the month and year you want to know the value for, and it tells you exactly what that bond is worth on that date. This is the most direct way to get an accurate number.
If you own bonds through a TreasuryDirect account, you can also log in and see the current value of each bond you hold listed right there. The account shows you the purchase price, the current value, and the earnings so far. This works only for bonds purchased after 2003, when TreasuryDirect launched.
For bonds you own in paper form — the physical certificates — the calculator is your tool. You do not need to own the bond or have any special access; the calculator works for anyone with the information printed on the certificate.
Key Takeaways
- The Treasury's Savings Bond Calculator at treasurydirect.gov will show you the exact value of any bond if you know its series, denomination, and issue date.
- Bonds earn interest monthly but are only worth their full value after 20 years; cashing in before then means you lose the last three months of interest.
- Series EE bonds purchased before May 2003 are worth at least double their face value; Series I bonds adjust their rate every six months based on inflation.
- You can cash paper bonds at most banks, or through TreasuryDirect if you have an account; the process takes a few days to a week.
Why the value changes over time
Savings bonds earn interest, and that interest compounds monthly. A $50 bond you bought today is not worth $50 next month — it is worth slightly more. The exact amount depends on the type of bond and the interest rate in effect when you bought it.
The catch is that you do not get all the interest if you cash the bond early. If you hold a bond for less than five years, you lose the last three months of interest as a penalty. If you hold it five years or longer, you get all the interest earned. This is why the calculator needs to know the specific month and year you want to check — the value on January 15 is different from the value on February 15 of the same year.
Series I bonds (inflation bonds) work differently: their interest rate changes every six months, in May and November, based on inflation data. A Series I bond you bought in January will have one rate through April, then a new rate starting in May. The calculator accounts for this automatically.
What happens after 20 and 30 years
Series EE bonds stop earning interest after 30 years. If you still own the bond at that point, it is worth whatever it accumulated by year 30, and it will not grow any further. Series I bonds also stop earning interest after 30 years.
Series EE bonds purchased before May 2003 have a special may provide: the Treasury promises they are worth at least double the face value. If a bond you bought for $50 in 1995 has not earned enough interest to reach $100 by now, the Treasury adjusts it up to $100. You can check whether your older bond qualifies by entering it into the calculator — if it shows a value of exactly double the face value, that may provide is in effect.
How to read the information on your bond certificate
A paper savings bond certificate has several pieces of information printed on it. The series is a letter (EE, I, or older series like E or H). The denomination is the purchase price — usually $50, $100, $500, or $1,000. The issue date is printed as a month and year, like "MAY 2015".
If you have lost the certificate or it is damaged, you can request a replacement through the Treasury's claim process, but you will need to provide proof of ownership. The easiest proof is a bank statement showing the purchase, or a receipt from when you bought it.
For bonds held in a TreasuryDirect account, all this information is already stored in your account, so you do not need to look at the certificate at all.
Differences between bond types and what they mean for value
Series EE bonds earn a fixed interest rate that was set when you bought the bond. That rate never changes. A Series EE bond bought in 2010 earns the same rate today as it did in 2010. This makes the value predictable — you can calculate forward and know roughly what it will be worth in five years or ten years.
Series I bonds earn a combined rate made up of a fixed portion (set when you buy) and a variable portion (adjusted every six months). The variable part moves with inflation. When inflation is high, the total rate goes up. When inflation is low, the total rate goes down. This means the value of a Series I bond is less predictable, but it also means your purchasing power is protected if prices rise.
Older series (E, H, HH) stopped being issued years ago, but if you own them, they may still be earning interest or may have reached their final value. The calculator works for these older bonds too, though the rules are different — some stopped earning interest decades ago.
Cashing in your bond and what to expect
If you own a paper bond, you can cash it at most banks during business hours. Bring the bond certificate and a photo ID. The bank will verify the bond, process the transaction, and deposit the money into your account or give you a check. This usually takes a few business days.
If you own bonds in a TreasuryDirect account, you can redeem them online through your account. The money goes into the bank account linked to your TreasuryDirect account, usually within a few business days.
Remember that if the bond is less than five years old, you will lose the last three months of interest. The calculator shows you the value you will actually receive after that penalty is applied. If the bond is five years or older, you get the full value shown in the calculator.
What to do if you cannot find your bond or lost the certificate
If you bought a bond through TreasuryDirect and still have access to your account, you do not need the certificate — your account record is proof of ownership. Log in and you can see all your bonds and their current values.
If you have a paper bond but lost the certificate, contact the Treasury's Bureau of the Fiscal Service. You will need to provide proof that you owned the bond — a bank statement from the purchase, a receipt, or other documentation. The process takes time, but the Treasury can issue a replacement certificate or process a claim for the value.
If you inherited a bond from someone else, the process is different and depends on whether the bond is in your name or still in the deceased person's name. Contact your bank or the Treasury directly for guidance on inherited bonds.
Frequently Asked Questions
Can I check the value of a bond someone gave me without the original paperwork?
If you have the physical bond certificate, yes — the calculator needs only the information printed on it (series, denomination, and issue date). If you do not have the certificate and it is not in a TreasuryDirect account, you will need to contact the Treasury or the bank where it was purchased to verify ownership before you can check the value or cash it.
Why does the calculator show a different value than what my bank told me?
The most common reason is the date. The calculator shows the value on a specific date; if you checked it on a different date than your bank did, the value will be different because the bond earned more interest. Also make sure you entered the series, denomination, and issue date correctly — even a small mistake changes the result.
If I cash my bond before five years, how much do I actually lose?
You lose the last three months of interest. The calculator shows you the penalty automatically — the value it displays for a bond less than five years old is already reduced by that amount. So if the calculator shows $525 for a bond you want to cash at four years old, that is what you will receive, not $525 plus interest.
Do I have to pay taxes on the interest my bond earned?
Yes, but not necessarily right now. Federal income tax is owed on the interest when you cash the bond or when it reaches final maturity (30 years), whichever comes first. You do not pay it when the interest is earned. Some people choose to report the interest each year instead; talk to a tax professional about which approach makes sense for your situation.
What if my bond is worth less than I paid for it?
This should not happen with Series EE or Series I bonds — they always earn at least some interest. The only exception is if you cash a bond before five years old; in that case, the three-month interest penalty might make the value slightly less than you expected, but not less than what you paid. If you see a value lower than your purchase price, double-check that you entered the information correctly into the calculator.