Calculate the current value and total interest earned on your Series EE, Series E, and Series I savings bonds.
How the Savings Bond Calculator Works
Our US Savings Bond Calculator estimates the current value and total interest earned on your Series EE, Series E, or Series I savings bonds. These government-backed securities are among the safest investments available, backed by the full faith and credit of the United States government.
Step-by-Step Instructions
- Select the bond series (EE, E, or I). Each series has different interest rules and guarantees.
- Choose the denomination (face value) of your bond.
- Enter the issue month and year printed on your bond.
- The purchase price is pre-filled based on the bond type. Series EE bonds are sold at half face value (a $100 bond costs $50), while Series I bonds are sold at face value.
- Click "Calculate Bond Value" to see your estimated current value and interest earned.
Understanding Each Bond Series
Series EE Bonds (issued 1980–present): These bonds are sold at half their face value and earn a fixed rate of interest. Bonds issued after May 2005 earn a fixed rate set at purchase. Bonds issued May 1997 through April 2005 earn variable rates based on 5-year Treasury yields. EE bonds are guaranteed to double in value within 20 years (reaching face value). They stop earning interest after 30 years.
Series E Bonds (issued 1941–1980): The predecessor to EE bonds, these were also sold at a discount to face value. All Series E bonds have stopped earning interest and should be cashed. They were originally issued to help finance World War II (then called "Defense Bonds" or "War Bonds").
Series I Bonds (issued 1998–present): These bonds are sold at face value and earn a composite rate consisting of a fixed rate (set at purchase, remains for the life of the bond) plus a semi-annual inflation rate (adjusted every 6 months based on the Consumer Price Index). This makes them an excellent hedge against inflation. They stop earning interest after 30 years.
Tax Considerations
US Savings Bonds offer several tax advantages that make them attractive for long-term savings:
- Deferred Federal Tax: You do not pay federal income tax on the interest until you cash the bond or it reaches final maturity (30 years).
- State and Local Tax Exempt: Savings bond interest is exempt from state and local income taxes in all US states and territories.
- Education Tax Exclusion: Interest may be completely tax-free if used for qualified education expenses (tuition and fees) and your income meets eligibility requirements. Modified adjusted gross income limits apply.
- Reporting Options: You can report interest annually (accrual method) or defer until redemption (cash method). The cash method is most common and simplest.
How to Cash Savings Bonds
Cashing US Savings Bonds is straightforward, and you have several options depending on the bond type:
- Electronic Bonds (treasurydirect.gov): Log into your TreasuryDirect account, select the bond you want to redeem, and the funds are deposited directly into your linked bank account within a few business days.
- Paper Bonds at Banks: Most banks and credit unions will cash paper savings bonds for account holders. You may need to provide identification. Some banks have limits on the amount they will cash.
- Treasury Retail Securities Site: If your bank won't cash the bond, you can mail it to the Treasury's retail securities site using Form PD F 1522.
Important: You cannot cash a bond within the first 12 months of ownership. If you cash a bond between 1 and 5 years after purchase, you forfeit the last 3 months of interest as a penalty.
Frequently Asked Questions
How accurate is this savings bond calculator?
This calculator provides estimates based on the typical interest rates and rules for each bond series. For the most accurate valuation, use the official TreasuryDirect Savings Bond Calculator at treasurydirect.gov, which uses the exact rates for each specific bond's issue date and computes month-by-month values. Our tool is best for quick estimates and planning purposes.
What is the difference between Series EE and Series I bonds?
Series EE bonds are sold at half face value (a $100 bond costs $50) and earn a fixed interest rate. They are guaranteed to double in value by year 20. Series I bonds are sold at face value and earn a composite rate combining a fixed rate with an inflation adjustment. I bonds protect against inflation, while EE bonds offer a known rate of return. Both are backed by the US government and exempt from state/local taxes.
Do savings bonds still earn interest after maturity?
No. Once a bond reaches its final maturity (30 years for EE and I bonds, 40 years for E bonds), it stops earning interest entirely. Holding bonds past maturity means you are losing potential earnings and may owe federal tax on interest that is no longer growing. Check your bonds and cash any that have reached maturity.
Are savings bond earnings taxable?
Yes, savings bond interest is subject to federal income tax, but exempt from state and local taxes. You can defer paying federal tax until you redeem the bond or it reaches final maturity. Interest may also be tax-free if used for qualified higher education expenses and your income meets certain limits (the Education Savings Bond Program). Reporting is done on IRS Form 1099-INT when you cash the bond.
Can I buy savings bonds as gifts?
Yes! You can buy electronic Series EE and I bonds as gifts through TreasuryDirect.gov. You need the recipient's full name and Social Security number. For minors, a parent or guardian can set up a minor-linked account. Paper I bonds can also be purchased with your federal tax refund (up to $5,000 per year) and given as gifts.
What happens if I lose my paper savings bond?
The Treasury can replace lost, stolen, or destroyed paper savings bonds. You need to file a claim using Treasury Form PD F 1048 (Claim for Lost, Stolen, or Destroyed United States Savings Bonds). You will need to provide details about the bond including series, denomination, issue date, serial number (if known), and the registered owner's information. There is no fee for this service.
How much can I invest in savings bonds per year?
For Series I bonds, each Social Security number can purchase up to $10,000 in electronic I bonds per calendar year through TreasuryDirect, plus an additional $5,000 in paper I bonds purchased with a federal tax refund (using IRS Form 8888). For Series EE bonds, the annual purchase limit is $10,000 per Social Security number in electronic form. There are no limits on how much you can hold in total.
Can I cash a savings bond before it matures?
Yes, but with restrictions. You cannot redeem a bond within the first 12 months of ownership. If you redeem a bond between 1 and 5 years after issue, you will forfeit the last 3 months of interest as an early redemption penalty. After 5 years, you can cash the bond at any time with no penalty and receive all accrued interest.
Are old Series E bonds still worth anything?
Yes, all Series E bonds still have value even though they no longer earn interest (the last E bonds stopped earning interest in 2010). You can cash them at most banks or through the Treasury. Many E bonds have grown significantly beyond their purchase price. For example, a $25 Series E War Bond purchased in 1942 for $18.75 is worth over $100 today due to decades of accumulated interest.
How do I find the value of my savings bonds?
You have several options: (1) Use our calculator above for a quick estimate, (2) Use the official TreasuryDirect Savings Bond Calculator at treasurydirect.gov for exact values, (3) Check your TreasuryDirect account for electronic bonds, or (4) Use the Treasury's Savings Bond Wizard tool which can calculate values for entire portfolios. For paper bonds, you will need the series, denomination, and issue date from the bond face.