EE bond value depends on how long you have held it and what the purchase price was

An EE savings bond's current worth is not the same as what you paid for it. You bought it at half its face value — so a $100 bond cost you $50 — but its actual value grows month by month based on a rate the Treasury sets every six months. The longer you hold it, the more it grows.

The Treasury announces new interest rates on the first business day of May and November each year. The rate that applies to your bond is the one in effect on the month and year you purchased it, and that rate stays locked in for the life of the bond. Your bond earns interest monthly, but the value only updates every month on the anniversary of your purchase date.

To find out what your specific bond is worth right now, you need to know three things: the purchase price, the purchase date, and the current interest rate for bonds purchased in that month and year. The Treasury's Savings Bond Calculator at treasurydirect.gov will do this math for you — you enter the denomination, series, issue date, and the calculator shows the current value.

Key Takeaways

  • EE bonds purchased at $50 face value cost $25; those purchased at $100 face value cost $50, and the price you paid is not the same as what it is worth now.
  • The interest rate locked into your bond is the rate that was in effect when you bought it, and that rate does not change for the life of the bond.
  • Interest accrues monthly but only updates on the anniversary of your purchase date each month.
  • The Treasury's Savings Bond Calculator at treasurydirect.gov will show you the exact current value if you enter the purchase date and denomination.
  • EE bonds reach face value (double the purchase price) after 20 years, and the Treasury guarantees this minimum even if interest rates were very low when you bought.

How the may provide minimum works

EE bonds come with a final maturity may provide. If your bond has not grown to at least face value by the time it reaches 20 years old, the Treasury adds a one-time adjustment to bring it to exactly face value. This means a $50 bond will be worth at least $100 after 20 years, no matter what interest rates were when you bought it.

This may provide matters most for bonds purchased during periods of very low interest rates. If you bought an EE bond in 2012, when rates were near zero, your bond would have grown very slowly. But by the time it turned 20 years old in 2032, the Treasury would have stepped in and brought it to face value if it had not reached that point on its own.

After a bond reaches face value, it continues to earn interest at its original locked-in rate until it stops earning interest altogether. For EE bonds, that happens at 30 years from the purchase date. After 30 years, the bond no longer earns interest and its value is fixed.

Finding your bond's current value without a calculator

If you do not have access to the Treasury calculator or prefer to estimate, you can work backward from the purchase date and rate. First, find what interest rate was in effect when you bought the bond. The Treasury publishes a historical rate table on treasurydirect.gov showing every rate since 1941.

Once you have the rate, you can estimate growth using the compound interest formula, but this gets complicated quickly. The easier route is to use the official calculator — it is free and takes less than a minute. You will need the exact purchase date (month and year), the denomination ($50 or $100 face value), and the series (all EE bonds issued after 2005 are Series EE).

If you own paper bonds and have lost the purchase documentation, the serial number on the bond itself does not tell you the purchase date or price. You will need to contact the Treasury's Bureau of the Fiscal Service or check any old statements or receipts you kept.

What happens to value after 30 years

At 30 years from purchase, your EE bond stops earning interest and reaches its final maturity date. The value it has at that moment is locked in permanently. You can still hold the bond and cash it in at any time, but it will not grow any further.

Most people cash in their bonds before or shortly after the 30-year mark, since there is no benefit to holding them longer. However, you are not required to cash them in — you can keep them indefinitely if you want, though the value stays the same.

How to check the value of bonds you already own

If you own EE bonds, the fastest way to see what they are worth is to create a free account on treasurydirect.gov and link your bonds to your account. This works for bonds you purchased through TreasuryDirect (the online system). The site will show you the current value of each bond, updated monthly.

For paper bonds you own physically, you will need to use the Savings Bond Calculator and enter the information manually. Have the bond in front of you so you can read the series, denomination, and issue date clearly. The calculator will show the value as of today's date.

If you inherited bonds or received them as a gift and do not know the purchase date, you can contact the Treasury at 844-284-2676 or visit treasurydirect.gov/indiv/research/indiv_research.htm to search for bonds registered in your name or a deceased person's name.

The difference between purchase price, face value, and current value

These three numbers are easy to confuse, so here is what each one means. Purchase price is what you paid — $50 for a $100 bond, or $25 for a $50 bond. Face value is the amount printed on the bond itself — $100 or $50. Current value is what the bond is worth today, based on how much interest it has earned since you bought it.

A $100 bond you bought for $50 in 2015 might be worth $75 today, depending on the interest rate locked in at purchase. It will eventually reach $100 (face value) and then continue growing beyond that if you hold it long enough. The confusion usually happens because people think "face value" means "what it is worth now," but it does not — it is just the denomination printed on the certificate.

Frequently Asked Questions

Can I find out what my old paper bonds are worth without the original paperwork?

You can use the Treasury's Savings Bond Calculator if you remember the approximate purchase date and denomination. If you do not remember the date, contact the Treasury at 844-284-2676 with the bond's serial number and any other details you have. They can look up the issue date in their records.

Do EE bonds earn interest after they reach face value?

Yes. Once a bond reaches face value (usually before 20 years), it continues earning interest at the same locked-in rate until it reaches final maturity at 30 years. After 30 years, it stops earning interest and the value is fixed.

What if I bought an EE bond 25 years ago and it is still below face value?

When your bond reaches 20 years old, the Treasury automatically adjusts it to face value if it has not reached that point on its own. You do not have to do anything — the adjustment happens automatically. After that, it continues earning interest for another 10 years until final maturity.

How often does the value of my EE bond update?

Interest accrues monthly, but the value only updates on the anniversary of your purchase date each month. So if you bought a bond on March 15, 2020, the value updates every month on the 15th. You will not see daily or weekly changes.

Is the value shown on treasurydirect.gov the same as what I will get if I cash it in?

Yes, the value shown is what you will receive if you cash in the bond that day. The Treasury pays the full current value, not the face value or purchase price. If you cash it in before five years have passed, you lose the last three months of interest as a penalty.