Savings bonds are considered to be a low-risk investment because they mature very slowly and accumulate interest every month. Bonds usually take about 20 years to reach full maturity, but they continue to add interest even after maturity. You may cash your savings bonds after holding them for at least 60 months, but you won't get the full maturity amount. You can keep track of the worth of your savings bonds by using a federal calculator.
Check the Bond Value
Go to the TreasuryDirect website. This is the official federal government website for checking savings bond earnings.
Click on the "Savings Bond Calculator" button located in the lower right corner of the page.
Type the date, or a future date, in the "Value as of" box to see how much your savings bond is worth, or will be worth.
Choose the type of bond you have from the "Series" drop-down menu.
Choose the denomination of your savings bond from the drop-down menu.
Type in the bond serial number and issue date in the two blank boxes.
Click "Calculate" to see how much your savings bond is worth according to the date you entered.
Check the Bond Maturity
Look for the issue date on your savings bond, which is located in the upper right corner. It will look like this: 02 2008, which is a bond issued on February of 2008.
Figure out how old the bond is by counting the number of months that have passed since it was issued. Bonds mature in months, not in years.
Bring your savings bond to a bank to cash it in after it is at least 60 months old to avoid a penalty fee.
- TreasuryDirect: Savings Bond Calculator - Detailed Instructions
- TreasuryDirect: What Does a Bond Look Like?
- TreasuryDirect.gov. "Series I Savings Bonds." Accessed Feb. 7, 2020.
- TreasuryDirect.gov. "Tax Considerations for I Bonds." Accessed Feb. 7, 2020.
- TreasuryDirect.gov. "Series I Savings Bonds FAQs." Accessed Feb. 7, 2020.
- TreasuryDirect.com. "Treasury Inflation-Protected Securities (TIPS)." Accessed Feb. 7, 2020.
Susan Reynolds has been a writer since 2008. She holds a B.A. in English from the University of South Florida and is a licensed real estate agent in Florida.