A $100 savings bond's current value depends on when it was issued and how long you've held it

A savings bond issued for $100 is not worth $100 the day you buy it. You pay less upfront—usually $50 for a Series EE bond—and the bond grows in value over time as interest accrues. The actual worth right now depends on three things: which series the bond is, when you bought it, and today's date.

If you own a Series EE bond purchased at $50, the Treasury guarantees it will be worth at least $100 after 20 years. Before that point, it's worth something between $50 and $100. If you own a Series I bond (inflation bonds), the value grows every six months based on inflation rates, so a $100 purchase price grows differently than an EE bond would.

The only way to know the exact current value is to check the Treasury's Savings Bond Calculator or contact your bank. You cannot estimate it reliably by hand because the interest rate baked into your specific bond depends on the month and year you bought it.

Key Takeaways

  • Series EE bonds are purchased at half their face value, so a $100 bond costs $50 upfront and grows toward $100 over time.
  • Series I bonds are purchased at face value ($100) and grow based on inflation rates that change every six months.
  • The Treasury's Savings Bond Calculator shows the exact current value of any bond if you enter its series, issue date, and denomination.
  • Cashing in a bond before five years have passed costs you the last three months of interest as a penalty.

How Series EE bonds reach their stated value

A Series EE bond with a $100 face value costs $50 when you purchase it. The Treasury promises that after 20 years, it will be worth $100—meaning your $50 investment doubles. This is the may provide minimum, not the typical outcome.

In practice, most EE bonds grow faster than the 20-year doubling schedule because interest rates are often higher than the minimum may provide. The actual rate depends on when you bought the bond. Bonds purchased in 2010 have a different rate than bonds purchased in 2020, and that rate is locked in for the life of the bond.

If you bought an EE bond five years ago, it's worth more than $50 but probably less than $100 (unless rates were unusually high when you bought it). The only way to know is to look it up. The bond continues to earn interest for up to 30 years from the issue date, so even old bonds keep growing.

How Series I bonds work differently

Series I bonds are inflation bonds, and they work on a completely different schedule. You pay $100 upfront and own a $100 bond immediately. The value does not double—instead, it grows by a fixed rate plus an inflation rate that resets every six months.

The inflation component is tied to the Consumer Price Index (CPI), which the Treasury announces in May and November. When inflation is high, your I bond grows faster. When inflation is low, it grows slower. The fixed rate portion stays the same for the entire 30-year life of the bond.

An I bond purchased for $100 in January 2023 is worth more than $100 today because inflation has been factored in since you bought it. The exact amount depends on the inflation rates announced in May and November of each year you've held it.

Why you cannot calculate the value yourself

The interest rate on your specific bond is determined by the month and year you purchased it, not by today's rate. A Series EE bond bought in March 2015 earns a different rate than one bought in March 2023. That rate is fixed and does not change, even if Treasury rates go up or down.

For Series I bonds, you would need to know the exact inflation rates announced on every May and November since you bought the bond, then apply the formula the Treasury uses. This is not something you can do with a calculator and a guess.

The Treasury's Savings Bond Calculator handles all of this automatically. You enter the bond series, the month and year you bought it, and the denomination, and it tells you the current value. This is a free tool on TreasuryDirect.gov and is the only reliable way to check.

What happens if you cash in before maturity

You can cash in a savings bond at any time after you own it, but there is a penalty if you do it too early. If you cash in a bond within the first five years of ownership, you lose the last three months of interest. This means you get back less than the bond is technically worth on that date.

After five years, you can cash in without penalty and receive the full current value. This is why financial advisors often say not to buy savings bonds unless you can leave the money alone for at least five years. If you need the money sooner, the penalty can be significant.

Bonds can also be lost, stolen, or destroyed. If that happens, you can file a claim with the Treasury to replace them, but you will need proof of purchase (usually a receipt or bank statement showing the transaction).

How to find the current value of your bonds

If you bought bonds through a bank, you may have a paper certificate or a receipt showing the purchase date and amount. If you bought them through TreasuryDirect (the government's online system), you can log into your account and see all your bonds listed with their current values.

For paper bonds you no longer have records for, go to TreasuryDirect.gov and use the Savings Bond Calculator. You will need to know the series (EE or I), the issue month and year, and the denomination ($50, $100, etc.). The calculator will show you what it is worth today.

If you inherited bonds or found old ones, the same process works. The bond's value is based on when it was issued, not when you acquired it. A 30-year-old bond may have stopped earning interest years ago (bonds stop earning after 30 years), so it is worth whatever it reached at that point.

When bonds stop earning and what to do then

Series EE and Series I bonds earn interest for 30 years from the issue date. After that, they stop growing in value. A bond issued in 2000 stopped earning interest in 2030 and will never be worth more than it was on that date.

If you own a bond that has matured (reached 30 years old), you should cash it in. There is no benefit to holding it any longer. The money will sit in a bank account earning nothing, or you can reinvest it in new bonds or other savings vehicles.

You can cash in matured bonds at most banks or through TreasuryDirect. Bring the bond certificate and a form of ID, or log into your TreasuryDirect account and request the redemption online. The process usually takes a few business days.

Frequently Asked Questions

Is a $100 savings bond worth $100 when I buy it?

No. Series EE bonds cost $50 and are worth $100 only after 20 years (at minimum). Series I bonds cost $100 and are worth $100 immediately, but they grow as inflation is added. Check the Treasury's calculator for the exact current value of any bond you own.

Can I cash in a savings bond anytime I want?

Yes, but there is a penalty if you cash it in within five years of purchase. You lose the last three months of interest. After five years, you can cash it in without penalty and receive the full current value.

What if I lost the certificate for my savings bond?

You can file a claim with the Treasury to replace it if you have proof of purchase, such as a bank statement or receipt. If you bought it through TreasuryDirect, log into your account—the bond is recorded there and you do not need a physical certificate to cash it in.

Do savings bonds earn interest forever?

No. Both Series EE and Series I bonds stop earning interest after 30 years from the issue date. After that, the bond is worth whatever it reached at year 30 and will not grow further. You should cash it in at that point.

How do I know what rate my bond is earning?

The rate is determined by the month and year you bought the bond and is locked in for life. You cannot see the rate directly, but the Treasury's Savings Bond Calculator shows you the current value, which reflects all the interest earned so far. For Series I bonds, the rate is posted on TreasuryDirect every May and November.