How to find your savings bond's current value
The U.S. Department of the Treasury runs 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, and the denomination you paid for it. The calculator tells you what that bond is worth right now — not what you paid, but what you can cash it for today.
You do not need to own the bond or have it in front of you. If you remember when you bought it and what type it was, the calculator works. This matters because many people hold bonds they received as gifts decades ago and have no paperwork.
If you have lost track of bonds you own, the Treasury also maintains a Hunt for Savings Bonds database. You can search by your name and Social Security number to see if any bonds are registered to you. This catches bonds you may have forgotten about entirely.
Key Takeaways
- The Treasury's Savings Bond Calculator at treasurydirect.gov shows what any bond is worth on any date, based on its series, issue date, and denomination.
- Series EE bonds earn interest monthly but only reach their full promised value after 20 years; cashing one early means you get less than the face value.
- Series I bonds earn interest that changes every six months based on inflation, so their value grows at different rates depending on when you bought them.
- You can search the Treasury's Hunt for Savings Bonds database to find bonds registered in your name that you may have forgotten about.
- The value shown in the calculator is what the Treasury will pay you if you cash the bond; you cannot sell savings bonds to anyone else.
How Series EE bonds build value over time
A Series EE bond is sold at half its face value. If you buy a $100 bond, you pay $50. The bond earns interest every month, and after 20 years it is may provide to be worth at least its full face value — so that $50 bond becomes $100.
If you cash the bond before 20 years have passed, you get the value it has earned so far, not the full $100. A Series EE bond cashed after 5 years is worth more than you paid but less than the face value. The exact amount depends on the interest rate the bond earned during those years, which the Treasury sets and changes periodically.
After 20 years, the bond continues to earn interest. It can be worth significantly more than face value if you hold it longer. Series EE bonds stop earning interest after 30 years, so that is the latest point at which cashing makes sense.
How Series I bonds build value over time
Series I bonds are sold at face value — you pay $100 for a $100 bond. They earn interest that combines a fixed rate (set when you buy) and an inflation rate (which changes every six months). The inflation portion is why these bonds are called "I bonds" — the I stands for inflation.
The inflation rate adjusts on May 1 and November 1 each year based on the Consumer Price Index. If you buy an I bond in March, you earn the inflation rate that was set in November until May 1 arrives. Then your rate changes to the new inflation rate set in May, and you keep that rate for six months.
This means two I bonds bought on the same day can be worth different amounts if you cash them on different dates, because the inflation rate will have changed. The Treasury's calculator accounts for this — it shows the value as of the specific date you enter.
What happens if you cash a bond early
You can cash any savings bond after one year of ownership. If you cash a Series EE or Series I bond before five years have passed, the Treasury withholds the last three months of interest as a penalty. This is not a fee you pay — it is interest you earned that you do not receive.
After five years, you can cash the bond and keep all the interest it has earned. There is no penalty at that point, though the bond may still be worth less than its face value (especially for Series EE bonds before the 20-year mark).
Series HH bonds, which are older and no longer sold, have different rules. If you own one, the Treasury website has specific information about its value and cashing terms.
Why the value shown in the calculator is not the same as face value
The face value printed on a bond is what it will eventually be worth, but not what it is worth today. For Series EE bonds, the face value is the goal after 20 years. For Series I bonds, the face value is what you paid, but the actual value grows as interest accrues.
The calculator shows the redemption value — the amount the Treasury will actually pay you if you cash the bond on a specific date. This is the only number that matters for deciding whether to cash now or wait.
If you see a bond listed in your Treasury Direct account or on a paper bond certificate, the value shown there may be outdated if you have not checked it recently. Interest accrues monthly, so the bond is worth more each month. The calculator always shows the current value.
How to check the value of paper bonds you hold
If you own physical paper savings bonds, the series and issue date are printed on the front. You need both pieces of information to use the calculator. The series appears as "Series EE" or "Series I" near the top. The issue date is printed below the denomination.
Paper bonds and electronic bonds (held in Treasury Direct accounts) are worth the same amount on the same date. The only difference is how you cash them. Paper bonds go to a bank or credit union. Electronic bonds are cashed through your Treasury Direct account online.
If you cannot read the printing on an old paper bond clearly, the Treasury's customer service line at 1-844-284-2676 can help you identify the series and issue date.
What affects the value of your bond between now and when you cash it
For Series EE bonds, the interest rate is locked in when you buy the bond. The rate does not change. So if you know the rate and the issue date, you can predict roughly what the bond will be worth in the future — the calculator does this for you.
For Series I bonds, the value depends on inflation rates that have not happened yet. If inflation stays high, the bond's value will grow faster. If inflation drops, the bond's value will grow more slowly. You cannot know the exact value of an I bond five years from now because the inflation rate will change twice more before then.
Neither type of bond loses value. The worst case is that the value stays flat if interest rates are zero, but the bond will never be worth less than what you paid (after the five-year mark for Series EE).
Frequently Asked Questions
Can I sell my savings bond to someone else?
No. Savings bonds cannot be sold or transferred. You can only cash them with the Treasury or a bank. If you want to give a bond to someone, you must cash it first and give them the money, or you must register the bond in both your names when you buy it.
What if the calculator shows a different value than what my bank told me?
The calculator is the official source. Banks sometimes use outdated information or calculate the value as of a date other than today. Contact the Treasury at 1-844-284-2676 or check treasurydirect.gov to confirm the current value.
Do I owe taxes on the interest my bond earned?
Yes, but you do not pay them when you cash the bond. You report the interest as income on your federal tax return for the year you cash it. Some states do not tax savings bond interest. The Treasury sends you a Form 1099-INT if the interest is over $10.
Is my savings bond worth more if I wait to cash it?
Almost always yes, because the bond earns interest every month. The only exception is if the bond has stopped earning interest (Series EE and I bonds stop after 30 years). Before that point, waiting means the bond is worth more.
What if I lost my paper bond?
Report it to the Treasury at treasurydirect.gov or call 1-844-284-2676. You will need the series, denomination, and issue date. The Treasury can replace it or pay you the current value if you cannot locate it.