How To Check or Calculate the Value of Savings Bonds (2024)

Vault’s Viewpoint on Checking or Calculating the Value of Savings Bonds

  • Maximize your savings bond’s value by redeeming it after it fully matures.
  • You can check the value of savings bonds at TreasuryDirect.gov.
  • You can cash in your savings bonds either online at TreasuryDirect.gov, at a bank or credit union or by mailing FS Form 1522 to the Treasury Department.

How To Check the Value of Savings Bonds

The U.S. government currently offers two series of savings bonds: I bonds and EE bonds. If you own these bonds, you likely purchased them through the TreasuryDirect website. Conveniently, you can also check their value online at TreasuryDirect.gov as follows:

Electronic Bonds

These days, most savers purchase electronic savings bonds through TreasuryDirect.gov. Log into your account and navigate to the Current Holdings tab to view the value of your savings bonds.

Paper Bonds

The federal government stopped issuing paper bonds in 2012, except when using some of your tax refund to purchase them. Since there’s no expiration or deadline, you can hold on to them as long as you like—or you can redeem them at any time one year from the issue date. However, paper bonds stop earning interest once they mature, so there’s little sense in holding them beyond that.

If you wish to calculate the value of paper savings bonds, the process is pretty straightforward. Access the paper savings bond calculator at TreasuryDirect and follow the directions. To determine your bond’s value, you’ll need to plug in the series type, denomination, bond serial number and the issue date.

Alternatively, you can manually check your paper bond values by using the bond tables provided by the Treasury Department. You can access the tables on the department’s Fiscal Data website.

Alternative Methods To Value Savings Bonds

Many banks and financial institutions allow you to cash in your savings bonds and might also help you determine the value of those bonds. Additionally, many software tools and apps— including those from brokerages and financial management companies—allow you to input your bond information to determine its value.

What Influences the Value of Savings Bonds?

Both I Bonds and EE bonds are issued by the government and offer safe and reliable returns. However, these bonds earn in different ways, which can impact the return you can expect.

EE Bonds

EE bonds earn a fixed interest rate, which is currently 2.70% for bonds purchased between May 1, 2024, and October 31, 2024. The bond is guaranteed to double its value if you hold it for 20 years, but it may earn interest for up to 30 years. Additionally, when you purchase an EE bond, the rate remains the same for 20 years but could change during the last 10 years.

I Bonds

I bonds earn a composite rate which includes two components: a fixed interest rate and a fluctuating rate that increases or decreases in line with inflation. The current interest rate for I bonds issued between May 1, 2024, and October 31, 2024, is 4.28%.

The fixed-rate portion of the bond remains constant for the life of the bond, regardless of what happens in the economy. Meanwhile, the inflation rate is calculated every six months based on the non-seasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U). The I bonds rate adjusts upward when inflation rises, providing you with a level of protection against inflation.

EE BondsI Bonds
Interest TypeFixed rateCombination of fixed rate and inflation rate
Value GuaranteeDoubles in value in 20 yearsNo guarantee, but the value increases with inflation
Interest TermEarns interest for up to 30 yearsEarns interest for up to 30 years
Purchase Limits$10,000 per year$10,000 in electronic and $5,000 in paper (with tax refund) per year
Redemption OptionsRedeemable after 1 year; lose three months of interest if cashed before 5 yearsRedeemable after 1 year; lose three months of interest if cashed before 5 years

Should I Cash In My Savings Bonds?

While you can cash in your savings bonds anytime after owning them for one year, it can pay to hold on to them. For starters, you’ll forfeit three months’ interest if you sell your bonds in the first five years. It’s also important to remember that, with EE bonds, the only way to guarantee that you’ll earn double the face value is to hold on to them for at least 20 years. Additionally, holding on to I bonds allows you to take advantage of inflation protection since the bond’s value could increase if inflation rises.

Of course, there are also many valid reasons to cash in your savings bonds. If your bonds have matured and no longer earn interest, you may want to cash them out or reinvest in new bonds to continue earning interest. You might also strategize to cash in your savings bonds and reinvest in an investment with a higher return. Cashing in your bonds also makes sense if you need cash to improve your financial situation, such as paying down high-interest credit cards or covering an unexpected medical bill.

How Do I Cash in My Savings Bonds?

When you are ready to cash in your savings bonds, you can do so online, by mail or at a bank or credit union. Ultimately, the method you choose may depend on whether your bond is electronic or paper and which option is easiest for you.

1. Online Through Your TreasuryDirect Account

The simplest option for cashing in your savings bonds is to go through the TreasuryDirect website, especially if you have electronic Series EE and Series I savings bonds. You can cash in a portion—at least $25—or all of your savings bond as long as you’ve held it for at least a year. If you redeem only a part of your bond’s value, you must leave $25 in your account. Also, you’ll only receive interest on the amount you withdraw.

2. At a Bank or Credit Union

The Treasury Department recommends contacting your financial institution to ask if they will cash your paper savings bonds. Also, check to see if they have any redemption limits and what identification you’ll need to complete the transaction.

3. By Mail to the U.S. Treasury Department

Another way to redeem paper savings bonds is to fill out FS Form 1522 from TreasuryDirect. You’ll need to enter the name of the bondholder, bond issue dates and serial numbers for the paper bonds you wish to redeem. You also must provide a Social Security number or employer identification number along with your bank account and routing numbers for payment. Keep in mind, partial redemptions are not an option with paper bonds; they must be cashed at full value.

If you’re cashing in a paper bond worth more than $1,000, you and other recipients listed on the bond must sign the form with a notary officer. Bonds below the $1,000 threshold don’t need to be certified. Send the form along with a copy of your driver’s license, passport, state ID or Military ID.

Frequently Asked Questions

Can a Savings Bond Expire?

A savings bond doesn’t expire, but they don’t continue to earn interest once their 30-year term ends. They don’t become worthless at that point, and you can still redeem them after they mature. If you want to continue earning interest, however, you can reinvest your funds into new bonds. Keep in mind that a savings bond is redeemable one year after you purchase it, but you’ll lose three months of interest if you cash it in within five years of the issue date.

Can I Cash a Savings Bond at Any Bank?

Not all financial institutions allow you to cash in savings bonds. Contact your bank to find out if they provide this service and what information or identification is needed. Some banks and credit unions require you to be an account holder or member to cash a savings bond.

What Happens if I Cash in My Savings Bond Early?

You can cash in your savings bond after holding it for at least one year. However, if you cash in your bond within five years of its issue date, you’ll lose the last three months of interest. For instance, if you purchased a bond on April 1, 2022, and cashed it in on April 1, 2024, you’d receive interest on the bond through January 1, 2024.

Are Savings Bonds Tax Deductible?

Savings bond interest is tax deductible on your state and local tax but not your federal income tax. You can defer taxes on bond interest until you cash it in, it matures or you transfer it. You may be eligible for tax benefits if you use the redemption funds on eligible education expenses. Check with your tax accountant about any tax benefits for which you may qualify.

How To Check or Calculate the Value of Savings Bonds (2024)
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