Checking the Value of Your Savings Bonds

Quick answer

• You can find the current value of U.S. savings bonds online through the TreasuryDirect website.
• You’ll need the serial number and issue date for each bond.
• Paper savings bonds issued before 2004 may require contacting a bank or the Treasury.
• Bonds continue to earn interest for a set period, typically 30 years.
• Understand that the value includes the principal plus accrued interest.
• Consider holding bonds until maturity for maximum value, unless you have an urgent need.

Who this is for

• Individuals who own U.S. savings bonds and want to know their current worth.
• People planning to redeem savings bonds and need to understand their value for financial planning.
• Heirs who have inherited savings bonds and need to determine their value.

What to check first (before you act)

Goal and timeline

Before you check the value of your savings bonds, consider why you need this information. Are you planning to redeem them soon for a specific purchase or expense? Or are you simply curious about their growth over time? Your timeline will influence whether it’s the right time to cash them in. Holding bonds until their full maturity period (often 30 years) generally maximizes their earning potential.

Current cash flow

Understanding your current financial situation is crucial. If you have immediate cash needs, the value of your savings bonds might be relevant for bridging a gap. However, if your cash flow is stable and you don’t have an urgent need for the funds, it might be more beneficial to let the bonds continue earning interest. Cashing out too early could mean forfeiting potential future gains.

Emergency fund or safety buffer

Do you have a robust emergency fund in place? This fund should ideally cover 3-6 months of essential living expenses. If your emergency fund is insufficient, cashing in savings bonds might be a good way to bolster your safety net. However, if your emergency fund is already adequate, consider the long-term benefits of keeping the bonds.

Debt and interest rates

Evaluate your outstanding debts. If you have high-interest debt (like credit cards), using the value of your savings bonds to pay it off could provide a guaranteed return that’s often higher than the interest your bonds are earning. Conversely, if your debts have low interest rates, it might be more advantageous to keep the bonds growing.

Credit impact

Redeeming savings bonds typically does not directly impact your credit score. However, if you are redeeming them to pay off debts that are negatively affecting your credit, then indirectly, it could help improve your credit over time. Be aware that certain redemption rules, especially for bonds held by minors or in trusts, might have specific implications to consider.

Checking the Value of Your Savings Bonds: A Simple Workflow

Step 1: Gather Your Bond Information

What to do: Locate your savings bonds. For electronic bonds, log in to your TreasuryDirect account. For paper bonds, find the physical certificates. You will need the serial number and issue date for each bond.
What “good” looks like: You have all the necessary details (serial number, issue date) for each bond you want to value.
A common mistake and how to avoid it: Not knowing where your bonds are or having lost the certificates. Keep them in a secure place, or if they are electronic, ensure you have your TreasuryDirect login details handy.

Step 2: Identify Your Bond Type

What to do: Determine if you have Series EE, Series I, or older savings bond types. This information is usually printed on the bond certificate itself or can be found in your TreasuryDirect account.
What “good” looks like: You can clearly identify the series of each bond.
A common mistake and how to avoid it: Assuming all savings bonds are the same. Different series have different interest accrual rules and redemption periods.

Step 3: Access the TreasuryDirect Website (for most bonds)

What to do: Go to the official TreasuryDirect website. This is the primary portal for managing and valuing U.S. savings bonds.
What “good” looks like: You are on the legitimate TreasuryDirect.gov website.
A common mistake and how to avoid it: Clicking on unofficial links or searching for “savings bond calculator” on a search engine that might lead to third-party sites with inaccurate information or potential scams. Always use the official government URL.

Step 4: Use the TreasuryDirect Savings Bond Value Calculator

What to do: On the TreasuryDirect website, navigate to the “Savings Bonds” section and find the “Calculate Value” tool. Enter the serial number and issue date for each bond.
What “good” looks like: The calculator accurately displays the current redemption value for each bond you entered.
A common mistake and how to avoid it: Entering incorrect serial numbers or issue dates, which will result in an error or an incorrect value. Double-check your entries carefully.

Step 5: Understand the Displayed Value

What to do: Review the value provided by the calculator. This value includes the original principal amount plus all accrued interest.
What “good” looks like: You understand that the figure shown is the total amount you would receive if you redeemed the bond today.
A common mistake and how to avoid it: Confusing the current value with the original purchase price or assuming the value is fixed. The value grows with interest.

Step 6: Check Maturity Dates

What to do: Note the original maturity date for each bond. Most savings bonds earn interest for 30 years from their issue date.
What “good” looks like: You know when each bond reaches its final maturity date.
A common mistake and how to avoid it: Forgetting that bonds stop earning interest after their final maturity. You should redeem them by then to get the full value.

Step 7: Consider Redemption Rules

What to do: Familiarize yourself with the redemption rules. Bonds held for less than one year typically forfeit the last three months of interest. Bonds held for one year or more can be redeemed at any time, but may have other specific requirements depending on the series and how they were acquired.
What “good” looks like: You understand the implications of redeeming before the final maturity date.
A common mistake and how to avoid it: Redeeming a bond held for less than a year without realizing you’ll lose a portion of the accrued interest.

Step 8: Decide Whether to Redeem

What to do: Based on your financial goals, timeline, and the bond’s value, decide whether to cash them in or continue holding them.
What “good” looks like: You have made a conscious decision that aligns with your financial plan.
A common mistake and how to avoid it: Redeeming bonds impulsively without considering the financial implications or alternatives.

Step 9: Initiate Redemption (if decided)

What to do: Follow the instructions on the TreasuryDirect website or through your bank (for certain older paper bonds) to redeem your savings bonds. This usually involves completing a form and verifying your identity.
What “good” looks like: The redemption process is initiated smoothly and you receive confirmation.
A common mistake and how to avoid it: Not having the correct identification or bank account information ready, which can delay the redemption process.

Common Mistakes (and what happens if you ignore them)

Mistake	What it causes	Fix
<strong>Not knowing where bonds are stored</strong>	Inability to access or value your savings bonds.	Implement a secure document storage system and record keeping for all financial assets, including savings bonds.
<strong>Ignoring bond maturity dates</strong>	Missing out on potential interest earnings if redeemed late, or losing potential value if not redeemed by the final maturity date.	Regularly review your bond portfolio and note their maturity dates. Use a calendar or spreadsheet to track them.
<strong>Redeeming paper bonds at a bank without checking TreasuryDirect first</strong>	Potentially receiving a lower value or facing unnecessary delays for certain bond types.	Always use TreasuryDirect for current values and redemption procedures for most bonds. Banks can only handle some older types.
<strong>Assuming all savings bonds are the same</strong>	Applying incorrect redemption rules or interest calculations.	Differentiate between Series EE and Series I bonds, and understand their specific rules.
<strong>Not factoring in the one-year redemption penalty</strong>	Receiving less money than expected if redeeming within the first year.	Be aware that bonds redeemed before one year forfeit the last three months of interest. Plan redemptions accordingly.
<strong>Failing to check for lost bonds</strong>	Leaving potential value unclaimed.	Periodically review your financial records and consider using the Treasury’s “Treasury Hunt” program if you suspect you have lost bonds.
<strong>Not considering tax implications</strong>	Unexpected tax liabilities upon redemption.	Understand that interest earned on savings bonds is subject to federal income tax, though it’s exempt from state and local taxes. Consider tax implications for education expenses.
<strong>Overlooking inheritance rules</strong>	Complications or delays in accessing or valuing inherited bonds.	Familiarize yourself with the process for claiming and valuing inherited savings bonds, which may involve additional documentation.

Decision rules (simple if/then)

• If you have high-interest debt (e.g., credit cards with rates above 7-8%), then redeem savings bonds to pay off the debt because the guaranteed return from debt elimination is likely higher than bond interest.
• If you need funds for a down payment on a home within the next 1-3 years, then check the value of your savings bonds and consider redeeming them if they are close to maturity, because you need accessible funds for your goal.
• If your emergency fund is insufficient (less than 3 months of expenses), then consider redeeming savings bonds to bolster your safety net because financial security is paramount.
• If a savings bond is approaching its 30-year maturity date, then check its value and plan for redemption because it will stop earning interest after maturity.
• If you are using savings bonds to pay for qualified education expenses, then consult IRS Publication 550 because there may be tax benefits or exemptions available.
• If you have paper savings bonds issued before 2004, then check their value directly with TreasuryDirect, as banks may have limited capabilities for older series.
• If you inherited savings bonds, then research the specific procedures for inherited bonds on TreasuryDirect because the process differs from self-owned bonds.
• If you are unsure about the tax implications of redeeming your savings bonds, then consult a tax professional because tax laws can be complex.
• If your savings bonds are electronic and held in TreasuryDirect, then you can check their value anytime through your account portal because it’s the most convenient method.
• If you have a substantial amount of savings bonds and are considering a major financial decision, then consult a fee-only financial advisor because they can provide objective guidance.

FAQ

How do I find the current value of my U.S. savings bonds?

For most savings bonds, you can find their current value by visiting the TreasuryDirect website and using their online Savings Bond Value Calculator. You’ll need the bond’s serial number and issue date.

What if I have paper savings bonds and can’t find the serial number or issue date?

If you have lost or cannot find the details for your paper bonds, you may need to contact a bank that handles savings bond transactions or reach out to the Bureau of the Fiscal Service. For older bonds, the Treasury Department has resources to help you search for them.

Do savings bonds earn interest forever?

No, savings bonds do not earn interest forever. Most U.S. savings bonds earn interest for 30 years from their issue date. After 30 years, they stop accruing interest and should be redeemed.

Can I cash in my savings bonds at any time?

You can redeem most savings bonds after holding them for one year. However, if you redeem a bond within the first year, you will forfeit the last three months of interest.

Are savings bonds tax-free?

The interest earned on U.S. savings bonds is subject to federal income tax, but it is exempt from state and local income taxes. There are some exceptions, such as for qualified education expenses, which may offer further tax advantages.

What is the difference between Series EE and Series I savings bonds regarding value?

Series EE bonds earn a fixed rate of interest, while Series I bonds earn a rate that combines a fixed rate with an inflation rate. This means the growth of Series I bonds can fluctuate more based on inflation.

What happens if I don’t redeem my savings bonds by their final maturity date?

If you do not redeem your savings bonds by their final maturity date (usually 30 years), they will stop earning interest, and you will not receive any further return on your investment. It’s important to redeem them by this date to get their full value.

What this page does NOT cover (and where to go next)

• Specific tax advice for your situation (Consult a tax professional).
• Detailed investment strategies beyond basic savings bond redemption (Explore broader investment options).
• Legal advice regarding inherited bonds or complex ownership structures (Consult an estate attorney).
• Information on foreign savings bonds or other government debt instruments (Research other government securities).
• How to purchase new savings bonds (Visit TreasuryDirect for purchasing information).