How to Calculate EE Savings Bonds
EE savings bonds, because of their ability to grow for 30 years without losing value, can be appealing if you have a specific savings goal in mind. While you should hold onto your bonds for the entire term to receive the maximum benefit, cashing them out early or simply checking on their value may be a necessity. The U.S. Department of the Treasury website makes calculating EE savings bonds straightforward; the site also offers other related services, from buying bonds to converting your existing paper bonds to an electronic format.
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Instructions
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Log onto the U.S. government's TreasuryDirect website (see Resources) to find the page titled "Calculate the Value of Your Paper Savings Bonds."
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Type the month and year you want to find the value of the bond for in the "Value as Of" field in a "MM/YYYY" format. While you can see what the value of the bond is at the specific time you're checking, you can also check the bond's value at a future date---such as when your son graduates from college---or research a past date, such as learning the past value of a bond in the month a grandparent passed away for estate purposes.
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Click the dropdown arrow in the "Series" field to select the "EE Bonds" option. Double-check that your bond is an EE bond by looking in the top right corner of the bond where the "Series" is printed. While your bond should be printed "Series EE," other bond types include Series I or Series E bonds.
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Choose the denomination of your bond in the "Denomination" field by looking at the top left corner of your bond. Select the appropriate denomination from the dropdown box.
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Find the serial number of your bond along the bottom right corner. Type this serial number manually, exactly as it's printed on the bond, into the "Bond Serial Number" field. Double-check your typing before proceeding.
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Look for the "Issue Date" of the bond near the top right of the bond below the series name. Fill in the field in a "MM/YYYY" format.
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Click "Calculate" on the screen to find the value of the bond according to the "Value as Of" date you selected. Print this information for your records, if desired. Select to add the bond to your inventory to expedite future calculations.
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Tips & Warnings
Many banking centers can tell you the value of your bonds, as well as cash in savings bonds for you and pay cash directly or deposit the funds into an account if doing so online isn't an option.
EE savings bonds stop earning interest after 30 years, so there's no benefit to holding onto them for longer than this period.
Cashing out EE bonds before they're five years old can result in a penalty of forfeited interest for a period of months.
EE bonds cannot be redeemed during the first year.
References
Resources
- Photo Credit savings bonds image by judwick from Fotolia.com
