EE bonds mature in 20 years, but you can cash them before that
An EE bond reaches its full stated value — the amount printed on the bond — after 20 years. This is called the maturity date. If you hold the bond for the full 20 years and the bond has earned interest, you will have at least double your original purchase price.
You do not have to wait 20 years to cash the bond. You can redeem it anytime after you have owned it for one year. If you cash it before 20 years have passed, you will receive whatever it is worth at that moment — which may be less than the full face value if interest rates have moved against you, or more if rates have moved in your favor.
The bond continues to earn interest for 30 years total from the issue date, even after the 20-year maturity point. This means if you hold it past 20 years, it keeps growing until year 30, when it stops earning interest entirely.
Key Takeaways
- EE bonds reach their printed face value after exactly 20 years from the issue date.
- You can cash an EE bond anytime after one year of ownership, but you will lose the last three months of interest if you redeem it before five years have passed.
- The bond continues earning interest for 30 years total, so holding it past 20 years still adds value until year 30.
- The actual value at any point depends on the interest rate locked in when you bought the bond and how long you have held it.
What happens at the 20-year mark
At 20 years, the bond has reached the value the Treasury promised when you bought it. For a paper EE bond bought at $50, the face value is $100. For a digital Series EE bond, you pay the full face value upfront, so a $100 bond costs $100 to buy.
Reaching maturity does not mean the bond stops working or that you must cash it. The bond simply continues to earn interest at the same rate it has been earning. Many people hold EE bonds past the 20-year point because the interest keeps compounding.
The Treasury does not automatically cash your bond at 20 years. You decide when to redeem it. If you leave it alone, it keeps growing until it hits the 30-year mark, when interest stops accruing.
The early redemption penalty and the one-year rule
You can redeem an EE bond after you have owned it for one year, but there is a cost to cashing it early. If you redeem the bond before it has been five years old, you lose the last three months of interest. This means if you bought the bond on January 15, 2024, and cashed it on January 14, 2025, you would receive the value as of October 15, 2024 — three months back.
After five years of ownership, you can cash the bond without losing any interest. The value you receive is whatever the bond is worth on the day you redeem it.
This early redemption penalty exists to discourage people from treating EE bonds like savings accounts. The Treasury wants you to hold them for at least five years to make the interest rate worthwhile.
How the 30-year window works
EE bonds stop earning interest 30 years after the issue date. This is the final maturity date. After 30 years, the bond has its maximum possible value and will not grow any further, even if you hold it.
Most people cash their bonds well before 30 years because the interest rate becomes very small in the later years. However, some people hold them as a way to preserve money they do not plan to touch. Once you hit year 30, there is no reason to keep the bond — you should redeem it and move the money elsewhere if you want it to continue earning interest.
How interest rates affect the timeline
The interest rate on an EE bond is set when you buy it and stays the same for the life of the bond. This rate determines how fast the bond grows toward its face value and how much it grows after 20 years.
If you bought an EE bond when rates were high, it may have reached its face value in less than 20 years. If you bought one when rates were very low, it might not reach face value until close to year 20. The Treasury guarantees that EE bonds will at least double in value over 20 years, but the actual growth depends on the rate locked in at purchase.
You can find the current interest rate for new EE bonds on the TreasuryDirect website. The rate changes every six months on May 1 and November 1. Bonds you already own keep their original rate forever.
Checking your bond's current value and maturity date
If you own paper EE bonds, you can estimate the value using the Treasury's Savings Bond Calculator on the TreasuryDirect website. You will need the series, denomination, and issue date. The calculator shows you what the bond is worth today and when it will reach face value.
If you own digital EE bonds through TreasuryDirect, you can log into your account and see the exact current value and issue date of each bond. The account shows you the maturity date (20 years from issue) and the final maturity date (30 years from issue).
For paper bonds, the issue date is printed on the bond itself. If you have lost track of when you bought it, you can contact the Treasury's Savings Bond Division or use the online calculator with your best estimate of the purchase date.
What to do when your bond matures
When your EE bond reaches 20 years, you have three choices: cash it, hold it for more growth, or reinvest the money elsewhere.
If you cash a paper bond, you take it to a bank that handles savings bonds. Most banks will redeem them, though some require you to have an account there. You will receive a check or a deposit into your account for the current value. The bank will report the interest earned to the IRS on a Form 1099-INT.
If you cash a digital bond through TreasuryDirect, the money goes directly into your linked bank account within a few business days. You can set up the redemption online in your account.
If you decide to hold the bond past 20 years, nothing changes. It keeps earning interest at the same rate until year 30. You do not need to do anything — just leave it where it is.
Frequently Asked Questions
Can I cash my EE bond before it reaches 20 years?
Yes. You can redeem an EE bond anytime after one year of ownership. If you cash it before five years have passed, you lose the last three months of interest. After five years, you can cash it without any penalty and receive its full current value.
What if my EE bond is older than 30 years?
The bond stops earning interest at 30 years from the issue date. If you still own it, it has reached its maximum value and will not grow any further. You should redeem it and move the money to an account or investment that continues to earn interest.
Do I have to pay taxes on the interest when the bond matures?
Yes. The interest on EE bonds is subject to federal income tax. You can choose to pay taxes each year as the interest accrues, or you can wait and pay all the taxes when you redeem the bond. Most people wait until redemption. State and local taxes do not apply to EE bond interest.
Will my EE bond be worth exactly double what I paid after 20 years?
The Treasury guarantees that EE bonds will at least double in value over 20 years. If the interest rate was high when you bought the bond, it may be worth more than double. If the rate was very low, it will be worth exactly double or slightly more.
What happens if I lose a paper EE bond?
Contact the Treasury's Savings Bond Division with the bond's series, denomination, and issue date. They can help you replace it or redeem it if you have the documentation. Keep paper bonds in a safe place like a safe deposit box or home safe.