Where to Cash In Your US Savings Bonds

You can redeem US savings bonds at your bank, credit union, or the US Treasury — the easiest route depends on the bond type and how much you're cashing in

Most people redeem savings bonds at their own bank or credit union. Walk in with the bond itself, your ID, and a completed Form 8888 (if you want the money split between accounts), and the teller will verify the bond's value, check that you meet the minimum holding period, and deposit the money into your account. The whole process usually takes 15 to 30 minutes. Some banks charge a small fee — typically $5 to $15 — to redeem bonds that aren't issued by them, though many waive the fee for customers.

If your bank won't redeem the bond or you don't have a bank account, you can redeem directly through the US Treasury's TreasuryDirect website or by mail. The Treasury route takes longer — usually one to two weeks — but costs nothing and works for any bond type.

Key Takeaways

Your own bank or credit union is the fastest place to redeem savings bonds, usually within 30 minutes, though some charge a fee for bonds issued elsewhere.
Series EE and Series I bonds must be held for at least one year before you can redeem them, and redeeming before five years costs you the last three months of interest.
The US Treasury will redeem bonds by mail or through TreasuryDirect if your bank won't, though the process takes one to two weeks.
You need the physical bond, your ID, and sometimes a completed Form 8888 if you want the money split between multiple accounts.
Bonds issued by the Treasury Department after 2012 exist only in digital form on TreasuryDirect and cannot be redeemed at a bank.

Redeeming at your bank or credit union

This is the fastest and most convenient option if you have a bank account. Bring the bond certificate itself, your government-issued ID, and go to any branch during business hours. The teller will look up the bond's current value using the Treasury's redemption tables, verify that you've held it long enough (at least one year for Series EE and Series I bonds), and process the redemption into your account.

Most banks will redeem bonds they issued themselves at no charge. If you're redeeming a bond issued by a different bank or the Treasury, expect a fee of $5 to $15, though many institutions waive this for customers. Call ahead if you want to confirm the fee before you go in.

Credit unions often have the same policy as banks. Some credit unions are stricter about which bonds they'll redeem — a few will only redeem bonds they issued — so call your credit union first if you're unsure.

Redeeming through TreasuryDirect online

If you own digital Series EE or Series I bonds purchased through TreasuryDirect (the Treasury's online platform), you can redeem them directly on the website without visiting a bank. Log into your TreasuryDirect account, select the bond you want to redeem, and request the redemption. The money goes into the bank account linked to your TreasuryDirect account within one to two business days.

You cannot redeem paper bonds through TreasuryDirect online — only digital bonds you purchased there. If you have a paper bond and want to use TreasuryDirect, you'll need to mail it to the Treasury first to convert it to digital form, which adds several weeks to the process.

Redeeming by mail through the US Treasury

Mail your bond directly to the Bureau of the Fiscal Service if your bank won't redeem it or you prefer not to visit a branch. Send the bond certificate, a completed Form PD 1048 (the redemption request form), and a copy of your ID to the address listed on the Treasury's website. Include a letter stating the bond's series, denomination, and issue date.

The Treasury will process your request and mail a check to your address within one to two weeks. This method is free but slower than a bank redemption. Keep a copy of everything you send in case the mail is delayed or lost.

What you need to bring or submit

For an in-person bank redemption, bring the physical bond certificate and a government-issued ID (driver's license, passport, or state ID). If you want the redemption money split between two accounts, bring a completed Form 8888 as well.

For a mail redemption, send the bond certificate, a completed Form PD 1048, a photocopy of your ID, and a cover letter with the bond's details. Do not send the original ID — a copy is sufficient.

For TreasuryDirect online redemption, you need only your login credentials and the bond's identification number, which appears on your account dashboard.

Bonds that can only be redeemed through the Treasury

Series EE and Series I bonds issued after 2012 exist only in digital form on TreasuryDirect and cannot be redeemed at a bank. You must redeem them through your TreasuryDirect account or by mailing a request to the Treasury.

Older paper bonds — Series EE issued before 2012, Series I issued before 2012, and Series HH bonds — can be redeemed at any bank, though some banks may decline to handle older or unfamiliar bond types. If your bank refuses, the Treasury will always redeem them by mail.

Timing and holding period requirements

Series EE and Series I bonds must be held for at least one year before you can redeem them. If you redeem before five years have passed, you lose the last three months of interest as a penalty. After five years, you can redeem without penalty.

Series HH bonds have different rules — they must be held for at least six months, and redeeming before five years costs you the last three months of interest as well.

The redemption itself — whether at a bank or through the Treasury — is processed immediately at a bank or within one to two business days through TreasuryDirect. Mail redemptions take one to two weeks from the time the Treasury receives your request.

What happens if your bond is lost or damaged

If your paper bond is lost, stolen, or damaged beyond use, you can request a replacement or redemption through the Treasury. Mail Form PD 1048 with a letter explaining what happened and a copy of your ID. The Treasury will investigate and either issue a replacement bond or process a redemption, though this takes several weeks.

If your digital bond on TreasuryDirect is lost due to a compromised account, contact the Treasury immediately. You can reset your password and regain access to your account, and the bonds themselves are not lost — they remain in the Treasury's records tied to your Social Security number.

Frequently Asked Questions

Can I redeem a savings bond at any bank, or only the bank that issued it?

You can redeem at any bank, but banks often charge a fee ($5 to $15) to redeem bonds they didn't issue. Your own bank usually redeems for free. Some banks decline to redeem bonds at all, so call ahead if you're unsure.

What if I redeem my bond before five years — do I lose all the interest?

No. You keep all the interest earned, but you forfeit the last three months of interest as a penalty. For example, if your bond earned $100 over four years, you receive $97. After five years, there is no penalty.

How long does it take to get the money after I redeem?

At a bank, the money deposits into your account immediately or within one business day. Through TreasuryDirect online, it takes one to two business days. By mail, the Treasury takes one to two weeks to process and mail a check.

Can I redeem a savings bond online if I don't have a TreasuryDirect account?

Only if the bond is already registered on TreasuryDirect. Paper bonds and older digital bonds not on TreasuryDirect must be redeemed at a bank or by mailing a request to the Treasury.

What if my bank says they won't redeem my bond?

Mail it to the Bureau of the Fiscal Service with Form PD 1048 and a copy of your ID. The Treasury will redeem any legitimate US savings bond by mail at no charge, though it takes one to two weeks.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.