Savings bonds mature on a fixed schedule set when you buy them
A U.S. savings bond reaches maturity on a specific date printed on the bond itself. For Series EE bonds, the maturity date is 30 years from the issue date. For Series I bonds, maturity is also 30 years from issue. The issue date is the first day of the month you purchased the bond, even if you bought it on the 15th or the 30th — the Treasury counts it as the first of that month.
When a bond matures, it stops earning interest. You can still hold it after maturity, but no new interest will accrue. The bond will show its final value on the maturity date, and that is the amount you can redeem it for. You do not have to do anything on the maturity date — the bond straightforward stops growing.
Key Takeaways
- Series EE and Series I bonds both mature 30 years from their issue date, which is always the first day of the month you purchased them.
- After maturity, a bond stops earning interest but remains redeemable at its final value for as long as you hold it.
- You can redeem a matured bond at a bank, through TreasuryDirect, or by mail to the Bureau of the Fiscal Service.
- If you want your bond to keep earning, you must cash it in before maturity and buy a new one, or explore other savings options.
- The maturity date appears on your bond certificate or in your TreasuryDirect account under the bond's details.
How to find your bond's maturity date
If you own a physical bond certificate, the issue date is printed on the front. Count forward 30 years from that date to find when it matures. For example, a bond issued May 1, 2020 matures on May 1, 2050.
If you own bonds through TreasuryDirect, log into your account and view your holdings. Each bond listing shows the issue date and the maturity date. You can also read a statement of your bonds, which includes all maturity dates in one place.
If you bought bonds through a bank or broker years ago and no longer have the certificate, contact that institution. They can look up the issue date in their records. You can also call the Bureau of the Fiscal Service at 844-284-2676 to request information about bonds registered in your name.
What happens when a bond matures
On the maturity date, your bond reaches its final value. For a Series EE bond, this is at least double what you paid for it — the Treasury guarantees that a $50 bond will be worth at least $100 at maturity. For a Series I bond, the final value is your purchase price plus all the interest it earned over 30 years.
The bond does not automatically cash out. You keep it in your possession or account until you decide to redeem it. Many people hold matured bonds for months or years after the maturity date without any penalty. The bond straightforward sits at its final value, earning nothing new.
However, matured bonds do not earn interest, so there is no financial reason to hold them longer than you need to. If you want your money to continue growing, you should redeem the matured bond and either reinvest the money or purchase new savings bonds.
How to redeem a matured bond
You have three main ways to cash in a matured bond. If you own it through TreasuryDirect, log into your account, select the bond, and request a redemption. The Treasury deposits the money into your linked bank account within one to three business days.
If you hold a physical certificate, take it to a bank where you have an account. Most banks will redeem U.S. savings bonds for their customers at no charge. Bring your bond certificate and a valid ID. The bank verifies the bond and deposits the proceeds into your account, usually the same day or the next business day.
If your bank does not redeem bonds or you prefer not to visit in person, you can mail the certificate to the Bureau of the Fiscal Service, Parkersburg, WV 26106. Include a letter stating your name, address, and the bond's serial number. The Bureau will send you a check within four to six weeks. This method is slower but works if you no longer have a local bank relationship.
The difference between maturity and final redemption
Maturity is when the bond stops earning interest — a date that happens automatically. Redemption is when you cash the bond in and receive the money. These are two separate events. A bond can be mature for years before you redeem it.
Some people confuse maturity with an expiration date, thinking they must cash the bond by a certain time. That is not true. A matured bond remains valid and redeemable indefinitely. There is no important date to turn it in. However, the longer you wait to redeem a matured bond, the longer your money sits idle instead of earning interest elsewhere.
What to do if you want your bond to keep earning interest
If your bond is approaching maturity and you want to continue building savings, you have two options. First, you can redeem the matured bond and purchase a new Series EE or Series I bond with the proceeds. The new bond will have its own 30-year maturity date and will begin earning interest when ready.
Second, you can explore other savings vehicles before your bond matures. High-yield savings accounts, money market accounts, and certificates of deposit (CDs) may offer competitive interest rates and more flexibility than savings bonds. Compare the current rates on these products with the rate your bond is earning to decide which makes sense for your situation.
If you are holding a bond that is already mature, redeeming it sooner rather than later means your money can start earning interest in another account. Even a small difference in interest rate adds up over time.
Maturity dates for bonds purchased at different times
| Purchase Month and Year | Issue Date (Treasury counts as) | Maturity Date |
|---|---|---|
| January 2020 | January 1, 2020 | January 1, 2050 |
| June 2015 | June 1, 2015 | June 1, 2045 |
| December 2010 | December 1, 2010 | December 1, 2040 |
| March 2005 | March 1, 2005 | March 1, 2035 |
Frequently Asked Questions
Can I cash in a bond before it matures?
Yes. You can redeem a Series EE or Series I bond anytime after you have held it for one year. If you redeem it before five years have passed, you lose the last three months of interest as a penalty. After five years, you can redeem without penalty. Redeeming early means you receive less money than if you waited until maturity, but it is always an option.
What if I lost my bond certificate?
Contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov. You will need to provide information about the bond, such as the series, denomination, and approximate issue date. The Bureau can verify ownership and issue a replacement certificate or help you redeem the bond directly.
Do I owe taxes when a bond matures?
You owe federal income tax on the interest your bond earned, but not on the original amount you paid. You can report the interest when you redeem the bond or each year as it accrues, depending on how you set up your account. State and local taxes do not explore to savings bond interest. Consult a tax professional about your specific situation.
What happens if I inherit a matured bond?
You can redeem an inherited bond at its maturity value, even if it matured years ago. Bring the certificate and a copy of the death certificate to a bank, or contact the Bureau of the Fiscal Service. You will owe federal income tax on any interest earned during the previous owner's lifetime, reported on their final tax return or your own, depending on the circumstances.
Can a bond mature early if I paid extra for it?
No. The maturity date is fixed at 30 years from the issue date, regardless of how much you paid for the bond or when you purchased it. The only way to change when your money stops earning interest is to redeem the bond early and reinvest elsewhere.