Savings Bond Calculator
Estimate the current value of your Series EE or Series I savings bonds. Enter the purchase amount and issue date to see your bond's current worth, interest earned, key dates, and a future value projection. For exact paper bond values, use the official TreasuryDirect calculator.
Savings Bond Calculator
Estimates for Series EE and Series I bonds issued May 2005 or later
Rate auto-filled based on issue date. Override for pre-2005 bonds using TreasuryDirect's rate tables.
I Bond values update on a complex 6-month schedule. This calculator estimates using known composite rates. For exact current value, see TreasuryDirect.
Enter your bond's purchase amount and issue date to see its estimated current value.
How Much Is My Savings Bond Worth?
Your savings bond's current value depends on its series (EE or I), purchase amount, issue date, and how long you've held it. The calculator above estimates that value for bonds issued from May 2005 onward. For paper bonds (any series, any date), the authoritative tool is the official TreasuryDirect Savings Bond Calculator, which pulls from the Treasury's actual rate tables. For electronic bonds, your current value appears directly in your TreasuryDirect account.
A few things determine whether your bond is earning as much as you think: whether it has reached 20 years (the doubling guarantee milestone for EE bonds), whether you're past the 5-year mark (which eliminates the early redemption penalty), and whether the bond has hit its 30-year life and stopped earning entirely. Old bonds sitting in drawers or safe deposit boxes are a real concern. The Treasury estimates billions of dollars in matured savings bonds that owners have forgotten to cash.
Series EE Bonds: Fixed Rate with a 20-Year Doubling Guarantee
Series EE bonds are the most widely held US savings bond. Electronic EE bonds issued today earn a fixed annual rate of 2.40% (May–October 2026), set at purchase and applied for the life of the bond. The more important feature, for long-term holders, is the 20-year doubling guarantee: the Treasury commits that any EE bond will be worth at least twice its purchase price at the 20-year mark. When the stated rate falls short of doubling the bond, the Treasury makes a one-time adjustment at 20 years to cover the gap.
What the 20-Year Guarantee Really Means
At 2.40% semiannually compounded over 20 years, a $1,000 EE bond grows to approximately $1,614. The doubling guarantee pushes it to $2,000. That gap means the effective 20-year return for bonds at today's rate works out to approximately 3.5% annualized, regardless of the stated 2.40% rate. Hold the bond past 20 years and it continues earning at 2.40% until the 30-year final maturity. Cash it before 20 years and the guarantee never kicks in.
The 5-Year Early Redemption Penalty
Redeeming any EE or I bond before the 5-year mark costs you the last 3 months of interest. The 12-month minimum hold (you cannot redeem at all in the first year) and the 3-month penalty in years 1–5 mean the effective yield on short-held bonds is lower than the stated rate. Example: cash a bond at 18 months and you receive only 15 months of interest. Cash it at 5 years and one day and the penalty disappears entirely.
| Redemption Timing | Interest Received | Penalty |
|---|---|---|
| Under 12 months | Nothing; cannot redeem yet | N/A |
| 12–59 months (1–5 years) | Total interest minus last 3 months | 3 months of interest lost |
| 60+ months (5+ years) | Full accrued interest | None |
| 240 months (20 years) | Full interest plus doubling adjustment if needed | None |
| 360 months (30 years) | Final value, bond stops earning | None |
Series I Bonds: Inflation-Protected with a Composite Rate
Series I bonds earn a composite rate combining two components: a fixed rate set at purchase (0.90% for bonds issued May–October 2026) and a semiannual inflation rate tied to the Consumer Price Index for all Urban Consumers (CPI-U). The composite rate resets every May 1 and November 1 for all I bonds. The inflation component changes, while each bondholder's fixed rate stays constant for the life of their bond.
The I Bond Composite Rate Formula
Composite rate = Fixed rate + (2 × Semiannual inflation rate) + (Fixed rate × Semiannual inflation rate)
For May–October 2026: Fixed rate 0.90%, semiannual inflation rate 1.67% (annualized 3.34%), producing a composite rate of 4.26%. The composite rate applies for your first 6 months, then updates based on the next Treasury announcement. Your fixed rate stays at 0.90% forever.
How I Bond Interest Accrues
I bond interest accrues monthly and compounds semiannually. Interest is only added on the first day of each month. There is no benefit to purchasing on the 15th versus the 1st of a month. The value you see in TreasuryDirect updates on the first of each month. Unlike Treasury notes and bills, I bonds pay no cash during the holding period; all interest accumulates and is paid as a lump sum at redemption.
Current Savings Bond Rates (2026)
The Treasury announces rates twice a year on May 1 and November 1. Rates effective May–October 2026:
| Series | Current Rate | Rate Type | Rate Period |
|---|---|---|---|
| Series EE | 2.40% annual | Fixed for life of bond | May–Oct 2026 |
| Series I | 4.26% composite | Fixed (0.90%) + inflation (3.34%) | May–Oct 2026 |
| Series EE (May 97–Apr 05) | 3.39% | Market-based, updates semiannually | May–Oct 2026 |
* Source: TreasuryDirect press release, May 1, 2026. All rates set by U.S. Department of the Treasury, Bureau of the Fiscal Service.
EE Bonds vs. I Bonds: Full Comparison
| Series EE | Series I | |
|---|---|---|
| Current rate (May–Oct 2026) | 2.40% fixed | 4.26% composite |
| Rate type | Fixed at purchase for life of bond | Fixed component + semiannual inflation component |
| Inflation protection | No (fixed rate only) | Yes, inflation component adjusts every 6 months |
| 20-year guarantee | Yes (guaranteed to double) | No guarantee, though rate tracks inflation |
| Minimum hold | 12 months | 12 months |
| 5-year penalty | 3 months interest if cashed before 5 years | 3 months interest if cashed before 5 years |
| Interest-bearing life | 30 years | 30 years |
| Annual purchase limit | $10,000 electronic per person | $10,000 electronic + $5,000 paper (via tax refund) |
| Available as paper bond | No (electronic only since 2012) | Yes (via IRS tax refund only) |
| Best for | Holding 20 years for the doubling guarantee | Inflation hedge, shorter to medium holding periods |
How Savings Bonds Are Taxed
Savings bond interest receives favorable tax treatment compared to most fixed-income investments.
Federal Tax: Deferred Until Redemption
Interest on EE and I bonds is subject to federal income tax, reported on Form 1099-INT in the year you cash the bond (or the year it matures, whichever comes first). By default, tax is deferred until redemption. You owe nothing during the years the bond is accumulating interest. You can elect to report interest annually instead, which can be useful for bonds held in the name of a child with low income.
State and Local Tax Exempt
Savings bond interest is fully exempt from state and local income tax. In high-tax states like California (13.3% top rate) and New York City (up to 11.9% combined), this exemption meaningfully boosts after-tax yield. A 4.26% I bond in California effectively competes with a taxable instrument yielding approximately 4.85% for a top-bracket taxpayer.
Education Tax Exclusion
Interest on EE and I bonds cashed in the same year you pay qualified higher education expenses can be excluded from federal income tax entirely (IRC Section 135). Bonds must have been issued after 1989, purchased by someone who was at least 24 years old at issue, and used for tuition and fees at an eligible institution. Income limits phase out the exclusion for 2026: the exclusion begins phasing out at $96,800 for single filers and $153,550 for married filing jointly. Above those thresholds, partial or no exclusion applies.