A $50 Series EE bond is worth more than $50 today, but the exact amount depends on when you bought it and current interest rates

Series EE bonds purchased before May 2003 are worth their face value plus all accrued interest. A $50 bond bought in 1990 is not worth $50—it is worth $50 plus decades of compounded interest. A $50 bond bought in 2015 is worth $50 plus interest accrued over the past nine years. The U.S. Treasury publishes the current redemption value for every bond issued, and you can look up your specific bond's worth using the Treasury's Savings Bond Calculator or by contacting a financial institution where you hold the bond.

The value grows differently depending on the bond's issue date. Bonds issued before May 2003 earn a may provide minimum interest rate set when you bought them. Bonds issued after May 2003 earn interest based on a rate that changes every six months. Neither type stops earning interest at face value—they keep growing as long as you hold them, up to 30 years from the issue date.

Key Takeaways

  • Series EE bonds always grow beyond their face value because they earn interest from the day of purchase.
  • The exact current value depends on your bond's issue date and the interest rate it was assigned when purchased.
  • You can find your bond's current redemption value using the Treasury's Savings Bond Calculator at treasurydirect.gov.
  • Bonds issued before May 2003 have a may provide minimum rate; bonds issued after May 2003 have rates that adjust every six months.
  • Redeeming a bond before five years have passed results in a three-month interest penalty.

How to find your bond's exact current value

The fastest way is the Savings Bond Calculator at treasurydirect.gov. Enter your bond's series (EE), denomination ($50), issue date, and final maturity date. The calculator returns the current redemption value in seconds. You do not need to log into an account—it is a public tool.

If you bought the bond through TreasuryDirect (the government's direct purchase platform), you can also log into your account and see all your holdings listed with current values. If you bought it through a bank or broker, contact that institution and provide your bond's serial number and issue date. They can look up the value in the Treasury's database.

For bonds issued decades ago, the Treasury also maintains a searchable database of unclaimed savings bonds. If you have lost track of a bond, you can search by your name and state at treasurydirect.gov.

Why a $50 bond is worth more than $50

Series EE bonds are discount bonds, meaning you buy them at half their face value. A $50 bond costs $25 to purchase. The bond is designed to reach its face value ($50) after 20 years, which means it earns interest every month from the day you buy it. After 20 years, your $25 investment becomes $50. After that, it continues to earn interest for another 10 years (up to 30 years total), so the value climbs higher.

The interest compounds semiannually, meaning every six months the Treasury adds interest to your bond, and future interest is calculated on that larger amount. This is why a bond held for 25 or 30 years is worth significantly more than $50.

The difference between bonds issued before and after May 2003

Bonds issued before May 2003 have a may provide minimum rate that was locked in on the day you purchased the bond. For example, a bond issued in 1995 might have a may provide minimum of 4% per year. That rate never changes, no matter what happens to market interest rates. The bond earns at least that rate for its entire 30-year life.

Bonds issued after May 2003 have a different structure. They earn interest based on a composite rate that the Treasury sets every six months (in May and November). The rate is tied to inflation and market conditions. Your bond's rate changes on those dates, but you are may provide never to earn less than zero—if rates go negative, your bond simply stops earning interest rather than losing value.

For a $50 bond issued in 2015, you would look up the composite rate for May 2015 (when it was issued), then track how that rate changed in November 2015, May 2016, and every six months since. The Treasury's Savings Bond Calculator does this math automatically.

What happens if you cash in the bond before five years

If you redeem a Series EE bond before it has been held for five years, the Treasury deducts three months of interest as a penalty. A $50 bond held for three years is worth more than $50 (because it has earned interest), but when you cash it in, you lose the last three months of that interest. This penalty applies regardless of when the bond was issued or what its interest rate is.

After five years, you can redeem the bond without penalty and receive its full current value. The bond continues to earn interest and grow in value for the full 30 years, but you have the option to cash it in penalty-free after the five-year mark.

How to redeem your bond and receive the money

If your bond is held in a TreasuryDirect account, you log in, select the bond, and request redemption. The money is deposited into your linked bank account within a few business days. If the bond is in paper form or held at a bank, you take it to a financial institution (bank, credit union, or brokerage) and request redemption. They submit it to the Treasury on your behalf and credit your account.

When you redeem, you receive a 1099-INT form for tax purposes, because the interest you earned is taxable income. You can choose to report the interest on your federal tax return for the year you redeem the bond, or you can report it annually as you go (though most people wait until redemption).

Series EE bonds versus other savings options

Series EE bonds lock in a rate for 30 years (for older bonds) or adjust every six months (for newer bonds). High-yield savings accounts currently offer rates that change daily and are often higher than the current EE composite rate, but they have no maturity date and no penalty for withdrawal. Certificates of deposit (CDs) offer fixed rates for a set term (three months to five years), but charge an early withdrawal penalty if you cash out before maturity.

The main advantage of Series EE bonds is that they are backed by the U.S. government and exempt from state and local income tax. The main disadvantage is that you cannot access the money penalty-free for five years, and the interest rate on newer bonds may be lower than what you can earn elsewhere. For money you do not need for at least five years, bonds can be a stable choice. For money you might need sooner, a high-yield savings account is usually more flexible.

Frequently Asked Questions

Can I look up a Series EE bond I bought 20 years ago?

Yes. Use the Savings Bond Calculator at treasurydirect.gov with your bond's series, denomination, and issue date. If you do not remember the exact date, the Treasury's unclaimed bonds database lets you search by name and state. You can also contact the Treasury directly at 844-284-2676.

What if my Series EE bond is worth less than $50?

This should not happen if the bond has been held for 20 years or more. Bonds are may provide to reach face value after 20 years. If your bond is younger than 20 years, it may still be worth less than $50 because it has not yet earned enough interest. Check the issue date and use the calculator to confirm the current value.

Do I have to pay taxes on the interest when I redeem?

Yes. The interest you earned is taxable federal income. You receive a 1099-INT form when you redeem. You can report it on your tax return for that year. State and local taxes do not apply to Series EE bonds, which is one reason they are popular for long-term savings.

What happens if I hold the bond past 30 years?

Series EE bonds stop earning interest after 30 years from the issue date. At that point, the bond is worth whatever it accumulated over those 30 years, and it will not grow any further. You should redeem it and move the money to another savings vehicle if you want it to continue earning interest.