The value of a savings bond depends on when you bought it, what type it is, and how long you've held it

A savings bond's worth is not the same as its face value. When you buy a Series EE bond for $50, you pay $25 upfront — that $25 is what you spent. But the bond's face value is $50, and that's what it will be worth when it matures. Until then, the value grows slowly each month as interest accrues. A Series I bond works differently: you pay full face value upfront, and interest is added on top.

The exact amount your bond is worth right now depends on three things: the purchase price, the interest rate that was in effect when you bought it, and how many months have passed since purchase. The U.S. Treasury publishes a savings bond value calculator on TreasuryDirect.gov where you can enter your bond's series, denomination, and issue date to see its current worth.

If you have a paper bond instead of one held electronically, you can also contact your bank or the Bureau of the Fiscal Service to look up the value, though the online calculator is faster.

Key Takeaways

  • Series EE bonds are purchased at half their face value, so a $100 bond costs $50, and grows toward that $100 over time.
  • Series I bonds are purchased at full face value and earn interest on top, with the rate changing every six months based on inflation.
  • The Treasury's savings bond value calculator at TreasuryDirect.gov shows you exactly what any bond is worth today based on its purchase date and type.
  • Paper bonds and electronic bonds are worth the same amount; the difference is only in how they're stored and tracked.
  • A bond's value stops growing 30 years after issue, even if you haven't cashed it in yet.

How Series EE bonds grow in value

When you buy a Series EE bond, you pay half the face value. A $100 EE bond costs you $50. The bond earns a fixed interest rate that was set when you bought it — that rate never changes for that specific bond. Interest is added to the bond's value every month, though you won't see the money until you cash it in.

The bond is may provide to reach its face value ($100 in this example) within 20 years. If the interest rate is low, the Treasury will add extra money to make sure it hits that may provide. After 20 years, it continues to earn interest at the same fixed rate for another 10 years, until it stops growing at year 30.

You can cash in an EE bond anytime after one year, but if you cash it in before five years have passed, you lose the last three months of interest as a penalty. After five years, there's no penalty.

How Series I bonds grow in value

Series I bonds work differently. You buy them at full face value — a $100 I bond costs $100 — and the interest is added on top. An I bond's interest rate has two parts: a fixed rate that never changes, and an inflation rate that adjusts every six months in May and November.

The inflation part is what makes I bonds useful during high inflation periods. When inflation is high, your I bond earns more. When inflation is low, your earnings slow down, but the fixed portion keeps you earning something. The combined rate is what you'll see on your bond statement.

Like EE bonds, I bonds must be held for at least one year before you can cash them in. If you cash in before five years, you lose the last three months of interest. After five years, you can cash in without penalty.

Finding the current value of a bond you own

The fastest way to find out what a bond is worth is to use the Treasury's online calculator at TreasuryDirect.gov. You'll need to know the bond's series (EE or I), the denomination (the face value), and the month and year you bought it. The calculator will show you the current value in seconds.

If you own electronic bonds through a TreasuryDirect account, you can also log in and see the value of each bond listed in your account. The value updates monthly on the first business day of each month.

For paper bonds, you have two options. You can contact your bank — most banks can look up paper bond values for you. You can also contact the Bureau of the Fiscal Service directly at 844-284-2676 or through their website. Have your bond's series, denomination, and issue date ready.

What happens when a bond reaches maturity

A savings bond reaches final maturity 30 years after you buy it. At that point, it stops earning interest completely, even if you don't cash it in. If you still own the bond after 30 years, it's worth whatever it was worth on that final maturity date, and it will never be worth more.

This is why it's important to keep track of when you bought your bonds. If you have a bond from 1994, for example, it stopped growing in 2024 and is no longer earning anything. You should cash it in and put the money somewhere else that earns interest.

The Treasury will not automatically cash in your bond when it matures. You have to do it yourself by taking it to a bank or submitting it to the Bureau of the Fiscal Service.

The difference between purchase price and current value

It's straightforward to confuse how much you paid for a bond with what it's worth. If you bought a $100 Series EE bond in 2015 for $50, you spent $50. But today that bond might be worth $75 or $85 or $100, depending on how much interest has accrued. The $50 is what you paid; the current value is what you'd get if you cashed it in today.

For tax purposes, the difference between what you paid and what it's worth is your earnings. If you paid $50 and it's now worth $75, you've earned $25 in interest. You don't owe taxes on that $25 until you actually cash in the bond (or it reaches final maturity).

Cashing in a bond and getting your money

When you're ready to cash in a bond, you take it to a bank or credit union where you have an account. Bring the bond itself (if it's paper) and a photo ID. The bank will verify the bond, confirm its current value, and deposit the money into your account. This usually takes a few minutes to a few days depending on the bank.

If you have electronic bonds in TreasuryDirect, you can redeem them directly through your online account. The money goes into the bank account linked to your TreasuryDirect account, usually within a few business days.

If you've lost a paper bond or it's been damaged, you can still cash it in, but you'll need to contact the Bureau of the Fiscal Service and provide proof of ownership. This takes longer than a straightforward bank redemption.

Frequently Asked Questions

Can I find out what an old bond is worth without the original paperwork?

Yes. Call the Bureau of the Fiscal Service at 844-284-2676 with the bond's series, denomination, and issue date. If you don't have the exact date, they can search by the approximate year. You'll need to verify you're the owner, but they can tell you the current value and help you redeem it.

What if my Series EE bond is worth less than I paid for it?

This can't happen. Series EE bonds are may provide to reach their face value within 20 years. If the interest rate is too low to get there on its own, the Treasury adds extra money to make up the difference. You will never lose money on an EE bond.

Do I bonds earn interest every month or just when the rate changes?

I bonds earn interest every month, but the rate itself only changes twice a year in May and November. The fixed portion of your rate stays the same forever, and the inflation portion adjusts on those two dates. Your bond's value grows every month, even though the rate only changes twice a year.

Is the value shown on TreasuryDirect the same as what a bank will give me?

Yes. The value is calculated the same way everywhere. Whether you check TreasuryDirect, call the Bureau of the Fiscal Service, or ask your bank, you'll get the same number. The only difference is timing — if you check on the 15th of the month and redeem on the 20th, the value might have grown slightly.

What's the difference between a bond's value and its redemption value?

They're the same thing. The value of a bond is what you'll receive when you cash it in. There are no hidden fees or deductions — the amount shown is what goes into your account.