How Much Are My Savings Bonds Worth

A savings bond is one form of Treasury bond that is issued by the federal government. Most Americans see this bond as a totally secured investment because they are backed up with full credit by the U.S. government no matter what the situation of the financial market is. Plus, it is free from state and local income taxes.

If you have notes there with you, they simply are not a piece of paper. Check this article and see how much your savings bond is worth today.

Typical Value Of A Savings Bond

Series EE savings bonds are worth $50 to $10,000
Series I savings bonds are worth $50 to $5,000

Go to Treasury Direct to calculate the exact value of your savings bond.

Included In The Value Of A Savings Bond

This includes the cash you can get out of cashing in a savings bond. If you have the maximum value, you can get more than what the face value is when interests are calculated.

Consider These Factors

  • Face Value. What is the amount on your savings bond note? Series EE savings bonds have the following face values: $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000. On the other hand, Series I bonds have these face values: $50, $75, $100, $200, $500, $1,000 and $5,000. Usually, you cash in the face value of the note including the interests it has accummulated over time. Check out the difference between these two types of savings bonds at SavingsBonds.com.
  • Redemption period. Both types of bonds can be redeemed after one year. However, there is a three-month interest penalty if you redeem the value of the bonds before it matures to five years. For instance, if you get a Series I bond worth $5,000 after 30 months of the purchase period, you are entitled to get the full amount of your investment plus only 27 months of interest.
  • Maturity Date. The face value of the savings bond usually doubles after the maturity period. SavingsBonds.com lists the maturity periods of Series EE and Series I bonds depending on their issue dates.

Additional Costs

  • Federal taxes. Although savings bonds are exempt from state and local taxes because they are released by the federal government, they are still subject to federal taxes. This is true, however, only for the accumulated interests of one savings bond. Check out this information from WorldWideWebTax.com regarding taxing rules for savings bonds.

Tips Before You Cash In Your Savings Bond

Collect your savings bond notes and check their face values, maturity dates, issue dates, and serial numbers. You need these things to calculate the face value of your bond.

Treasury Direct has an online calculator that will help you know the current value of your savings bonds. You need to indicate the bonds’ series, denomination, serial number, and issue date. It is very important that you calculate the worth of your savings bond using this calculator prior to cashing it in to avoid mistakes.

Call in your local bank and ask whether they handle cashing in U.S. savings bonds. Take note that some banks do not offer such kind of service. Once you have found a local bank that handles savings bond, bring the note to them.

When you redeem the value of your savings bond in a bank, you need to establish your identity first by providing documentary identification or having an active account for at least six months at the bank you are trying to transact with. Check out this link from Treasury Direct regarding information on the proper redeeming of savings bonds.

Remember that both types of savings bonds can be eligible for cash in only when it is at least one year old. However, there is an exemption to this rule. In times of declared federal disasters, the savings bond can be cashed in even before it reaches one year old.

If you have savings bond inquiries that your local bank cannot help you with, you can contact the Minneapolis Treasury Retail Securities.

Federal Reserve Bank
of Minneapolis
P.O. Box 214
Minneapolis, MN 55480
800-553-2663

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